Verona Pharma (NASDAQ:VRNA) Shares Down 4.3% on Insider Selling

Verona Pharma plc (NASDAQ:VRNA)’s stock price dropped 4.3% during trading on Monday after an insider sold shares in the company. The company traded as low as $14.87 and last traded at $15.02. Approximately 245,237 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 489,801 shares. The stock had previously closed at $15.69.

Specifically, insider Kathleen A. Rickard sold 36,248 shares of Verona Pharma stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the sale, the insider now directly owns 2,621,552 shares in the company, valued at $5,138,241.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRNA. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Verona Pharma in a research report on Friday, March 1st. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Verona Pharma in a research report on Monday, March 4th. Finally, Piper Sandler upped their price target on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $33.60.

Verona Pharma Trading Down 4.5 %

The firm’s fifty day moving average price is $16.21 and its 200 day moving average price is $16.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 33.33 and a quick ratio of 33.33.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. On average, equities research analysts predict that Verona Pharma plc will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRNA. China Universal Asset Management Co. Ltd. increased its position in Verona Pharma by 166.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 55,684 shares of the company’s stock valued at $908,000 after acquiring an additional 34,811 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Verona Pharma by 3.9% in the third quarter. Jennison Associates LLC now owns 1,442,566 shares of the company’s stock worth $23,514,000 after purchasing an additional 53,903 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Verona Pharma in the third quarter worth about $422,000. Moody Aldrich Partners LLC grew its holdings in shares of Verona Pharma by 3.8% in the third quarter. Moody Aldrich Partners LLC now owns 354,837 shares of the company’s stock worth $5,784,000 after purchasing an additional 13,136 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Verona Pharma in the third quarter worth about $815,000. Institutional investors own 85.88% of the company’s stock.

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.