Atika Capital Management LLC Acquires 140,000 Shares of Verona Pharma plc (NASDAQ:VRNA)

Atika Capital Management LLC boosted its holdings in Verona Pharma plc (NASDAQ:VRNA) by 194.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 212,000 shares of the company’s stock after purchasing an additional 140,000 shares during the period. Verona Pharma comprises approximately 1.0% of Atika Capital Management LLC’s portfolio, making the stock its 27th largest holding. Atika Capital Management LLC’s holdings in Verona Pharma were worth $9,845,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its holdings in shares of Verona Pharma by 2.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,383,950 shares of the company’s stock worth $97,356,000 after purchasing an additional 69,601 shares during the last quarter. Wellington Management Group LLP boosted its position in Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock valued at $140,492,000 after buying an additional 1,146,609 shares during the period. Jennison Associates LLC grew its holdings in Verona Pharma by 8.5% in the 4th quarter. Jennison Associates LLC now owns 1,889,542 shares of the company’s stock worth $87,750,000 after acquiring an additional 148,656 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Verona Pharma by 41.3% in the fourth quarter. Franklin Resources Inc. now owns 791,104 shares of the company’s stock valued at $36,739,000 after acquiring an additional 231,376 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Verona Pharma by 17.8% during the fourth quarter. Prudential Financial Inc. now owns 208,100 shares of the company’s stock valued at $9,664,000 after acquiring an additional 31,432 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction 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 sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VRNA shares. HC Wainwright boosted their price target on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Roth Mkm assumed coverage on Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 target price on the stock. Canaccord Genuity Group raised their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Truist Financial reissued a “buy” rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, Roth Capital set a $83.00 target price on shares of Verona Pharma in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $69.14.

Verona Pharma Trading Down 7.2 %

NASDAQ:VRNA opened at $53.90 on Friday. The firm has a market capitalization of $4.36 billion, a P/E ratio of -28.07 and a beta of 0.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. Verona Pharma plc has a one year low of $11.39 and a one year high of $70.40. The company’s 50-day simple moving average is $62.70 and its 200 day simple moving average is $47.40.

About Verona Pharma

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.