Reid Alexander Waldman Sells 67,500 Shares of Veradermics (NYSE:MANE) Stock

Veradermics, Incorporated (NYSE:MANE) CEO Reid Alexander Waldman sold 67,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $107.86, for a total value of $7,280,550.00. Following the completion of the sale, the chief executive officer owned 170,824 shares in the company, valued at approximately $18,425,076.64. This represents a 28.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Trading Up 0.2%

Shares of NYSE:MANE opened at $111.50 on Thursday. Veradermics, Incorporated has a twelve month low of $32.00 and a twelve month high of $131.24. The stock has a 50 day simple moving average of $110.87. The firm has a market cap of $4.66 billion and a P/E ratio of -58.68.

Veradermics (NYSE:MANE) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, meeting the consensus estimate of ($0.58). On average, research analysts anticipate that Veradermics, Incorporated will post -2.74 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MANE. Leerink Partners lifted their price objective on Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. UBS Group set a $170.00 target price on Veradermics in a research note on Wednesday, July 15th. Citigroup raised their target price on Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Needham & Company LLC lifted their price target on Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings assumed coverage on Veradermics in a report on Tuesday, May 26th. They issued a “sell (d+)” rating for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Institutional Trading of Veradermics

An institutional investor recently raised its position in Veradermics stock. Bamco Inc. NY raised its position in Veradermics, Incorporated (NYSE:MANE) by 284.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 229,581 shares of the company’s stock after buying an additional 169,913 shares during the period. Bamco Inc. NY owned about 0.55% of Veradermics worth $28,225,000 at the end of the most recent quarter.

Veradermics Company Profile

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.