HBK Sorce Advisory LLC Trims Stake in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

HBK Sorce Advisory LLC reduced its position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,014 shares of the company’s stock after selling 3,800 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Verona Pharma PLC American Depositary Share were worth $2,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRNA. RTW Investments LP purchased a new stake in Verona Pharma PLC American Depositary Share in the 4th quarter worth about $84,568,000. Wellington Management Group LLP raised its position in Verona Pharma PLC American Depositary Share by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the period. Darwin Global Management Ltd. purchased a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $37,637,000. Point72 Asset Management L.P. purchased a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $33,019,000. Finally, Janus Henderson Group PLC increased its position in shares of Verona Pharma PLC American Depositary Share by 59.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company’s stock worth $77,466,000 after acquiring an additional 624,370 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Mark W. Hahn sold 400,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the sale, the chief financial officer now directly owns 12,278,992 shares in the company, valued at approximately $139,980,508.80. The trade was a 3.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Zaccardelli sold 90,360 shares of Verona Pharma PLC American Depositary Share stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total value of $811,432.80. Following the completion of the sale, the chief executive officer now owns 14,377,176 shares in the company, valued at approximately $129,107,040.48. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,965,800 shares of company stock worth $20,056,881. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Roth Capital reaffirmed a “buy” rating and set a $116.00 target price (up from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday, June 18th. Jefferies Financial Group raised their target price on shares of Verona Pharma PLC American Depositary Share from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 11th. HC Wainwright raised their target price on shares of Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. Cowen assumed coverage on shares of Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They set a “buy” rating on the stock. Finally, Piper Sandler raised their target price on shares of Verona Pharma PLC American Depositary Share from $76.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verona Pharma PLC American Depositary Share has an average rating of “Buy” and an average price target of $101.10.

Verona Pharma PLC American Depositary Share Price Performance

Shares of VRNA opened at $97.22 on Wednesday. The company has a market cap of $8.28 billion, a price-to-earnings ratio of -48.61 and a beta of 0.21. Verona Pharma PLC American Depositary Share has a twelve month low of $14.14 and a twelve month high of $99.01. The company has a quick ratio of 8.73, a current ratio of 8.86 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $76.24 and a two-hundred day moving average of $63.03.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to analysts’ expectations of $41.47 million. As a group, analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Verona Pharma PLC American Depositary Share 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.