Verona Pharma plc (NASDAQ:VRNA) Stock Position Trimmed by Tri Locum Partners LP

Tri Locum Partners LP cut its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 454,201 shares of the company's stock after selling 139,779 shares during the period. Verona Pharma accounts for about 4.4% of Tri Locum Partners LP's portfolio, making the stock its 8th largest holding. Tri Locum Partners LP owned approximately 0.57% of Verona Pharma worth $21,093,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in VRNA. GAMMA Investing LLC increased its holdings in Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after purchasing an additional 276 shares during the last quarter. EMC Capital Management grew its stake in shares of Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after buying an additional 3,400 shares in the last quarter. Wrapmanager Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter valued at $207,000. Transcend Capital Advisors LLC acquired a new position in Verona Pharma during the 4th quarter worth about $225,000. Finally, Raymond James Financial Inc. acquired a new position in Verona Pharma during the 4th quarter worth about $225,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Verona Pharma Stock Up 1.7 %

Shares of VRNA stock traded up $1.24 on Friday, reaching $73.50. 781,295 shares of the stock were exchanged, compared to its average volume of 1,262,809. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $74.18. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of -38.32 and a beta of 0.16. The business's 50 day moving average price is $62.89 and its 200 day moving average price is $51.63.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. As a group, sell-side analysts expect that Verona Pharma plc will post -1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRNA. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. Truist Financial reiterated a "buy" rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Canaccord Genuity Group boosted their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. HC Wainwright increased their price objective on Verona Pharma from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Roth Mkm initiated coverage on Verona Pharma in a research note on Friday, January 10th. They set a "buy" rating and a $68.00 target price for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Verona Pharma has a consensus rating of "Buy" and a consensus target price of $81.50.

Insiders Place Their Bets

In related news, CEO David Zaccardelli sold 90,360 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $811,432.80. Following the transaction, the chief executive officer now owns 14,377,176 shares in the company, valued at $129,107,040.48. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the sale, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,080 shares of company stock valued at $2,194,582. 4.80% of the stock is owned by corporate insiders.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.