Veradermics, Incorporated $MANE Stock: Profund Advisors LLC Boosts Position

Profund Advisors LLC boosted its position in shares of Veradermics, Incorporated (NYSE:MANE) by 399.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,843 shares of the company’s stock after buying an additional 12,673 shares during the period. Profund Advisors LLC’s holdings in Veradermics were worth $1,921,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Montanova Capital LLC bought a new stake in Veradermics in the 2nd quarter worth approximately $512,533,000. Bamco Inc. NY boosted its position in shares of Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after acquiring an additional 169,913 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Veradermics in the second quarter valued at $9,835,000. Wellington Management Group LLP bought a new stake in Veradermics in the second quarter worth $8,425,000. Finally, Arizona State Retirement System purchased a new stake in Veradermics during the second quarter valued at $524,000.

Veradermics Stock Down 0.3%

MANE stock opened at $139.32 on Monday. Veradermics, Incorporated has a twelve month low of $32.00 and a twelve month high of $146.57. The stock has a market capitalization of $5.82 billion and a price-to-earnings ratio of -73.33. The firm’s fifty day simple moving average is $114.61 and its two-hundred day simple moving average is $96.16.

Veradermics (NYSE:MANE) last released its earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). As a group, equities research analysts expect that Veradermics, Incorporated will post -2.87 EPS for the current year.

Insider Activity

In related news, Director Montanova Capital, Llc sold 750,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the transaction, the director directly owned 461,033 shares in the company, valued at approximately $49,445,789.25. This represents a 61.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy August Durso sold 43,500 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider directly owned 78,142 shares in the company, valued at $8,425,270.44. This trade represents a 35.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 961,000 shares of company stock valued at $103,120,220.

Analyst Ratings Changes

Several equities analysts have commented on MANE shares. UBS Group set a $204.00 price objective on shares of Veradermics in a research report on Thursday, October 22nd. Citigroup restated a “buy” rating on shares of Veradermics in a report on Tuesday, September 15th. B. Riley Financial upped their target price on shares of Veradermics from $170.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Finally, Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Seven 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’s stock. According to data from MarketBeat, Veradermics has an average rating of “Moderate Buy” and an average price target of $163.86.

About Veradermics

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company’s research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics’ pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.