Verona Pharma plc (NASDAQ:VRNA) Shares Sold by 1492 Capital Management LLC

1492 Capital Management LLC cut its position in Verona Pharma plc (NASDAQ:VRNA) by 37.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,002 shares of the company’s stock after selling 61,053 shares during the quarter. Verona Pharma accounts for 2.2% of 1492 Capital Management LLC’s portfolio, making the stock its 15th largest position. 1492 Capital Management LLC’s holdings in Verona Pharma were worth $4,644,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Verona Pharma by 61.0% in 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 last quarter. Jennison Associates LLC boosted its holdings in Verona Pharma by 8.5% in the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company’s stock valued at $87,750,000 after purchasing an additional 148,656 shares during the last quarter. Franklin Resources Inc. grew its stake in Verona Pharma by 41.3% during the 4th quarter. Franklin Resources Inc. now owns 791,104 shares of the company’s stock valued at $36,739,000 after purchasing an additional 231,376 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in Verona Pharma by 1.5% during the 4th quarter. Affinity Asset Advisors LLC now owns 660,000 shares of the company’s stock valued at $30,650,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Atika Capital Management LLC increased its holdings in Verona Pharma by 194.4% during the 4th quarter. Atika Capital Management LLC now owns 212,000 shares of the company’s stock worth $9,845,000 after purchasing an additional 140,000 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

Verona Pharma Stock Up 1.1 %

Shares of NASDAQ:VRNA opened at $58.92 on Friday. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40. The company’s fifty day moving average is $62.44 and its two-hundred day moving average is $49.24. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -30.69 and a beta of 0.16.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. HC Wainwright raised their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research note on Friday, February 28th. Wells Fargo & Company increased their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Truist Financial reissued a “buy” rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $74.67.

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.