18,050 Shares in Verona Pharma plc (NASDAQ:VRNA) Acquired by AdvisorShares Investments LLC

AdvisorShares Investments LLC purchased a new stake in shares of Verona Pharma plc (NASDAQ:VRNA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,050 shares of the company’s stock, valued at approximately $838,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 276 shares in 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 worth $163,000 after acquiring an additional 3,400 shares during the last quarter. Wrapmanager Inc. bought a new position in Verona Pharma during the fourth quarter worth $207,000. Sanctuary Advisors LLC acquired a new position in Verona Pharma during the 3rd quarter valued at $219,000. Finally, Transcend Capital Advisors LLC acquired a new stake in Verona Pharma during the fourth quarter worth about $225,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNA has been the subject of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Roth Mkm assumed coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. TD Cowen assumed coverage on Verona Pharma in a research report on Monday. They set a “buy” rating and a $100.00 target price for the company. Cantor Fitzgerald started coverage on Verona Pharma in a report on Monday, April 21st. They set an “overweight” rating and a $80.00 price objective for the company. Finally, Roth Capital set a $83.00 target price on shares of Verona Pharma in a report on Friday, February 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Verona Pharma currently has a consensus rating of “Buy” and an average target price of $78.50.

Verona Pharma Stock Performance

VRNA stock opened at $68.83 on Tuesday. The company has a 50 day moving average price of $62.50 and a 200 day moving average price of $51.07. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $78.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The stock has a market capitalization of $5.56 billion, a PE ratio of -35.85 and a beta of 0.16.

Insider Buying and Selling at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the transaction, the insider now directly owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.

Verona Pharma 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.