Wrapmanager Inc. Takes Position in Verona Pharma plc (NASDAQ:VRNA)

Wrapmanager Inc. bought a new position in shares of Verona Pharma plc (NASDAQ:VRNA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,448 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after purchasing an additional 529 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Verona Pharma by 37.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,041 shares of the company’s stock worth $605,000 after purchasing an additional 5,691 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma in the third quarter valued at $169,000. Diversify Wealth Management LLC bought a new position in shares of Verona Pharma in the third quarter valued at about $611,000. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Verona Pharma by 4.8% in the third quarter. Rice Hall James & Associates LLC now owns 985,076 shares of the company’s stock valued at $28,341,000 after buying an additional 45,500 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO David Zaccardelli sold 162,800 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $5.01, for a total value of $815,628.00. Following the completion of the sale, the chief executive officer now directly owns 14,204,752 shares of the company’s stock, valued at $71,165,807.52. This represents a 1.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Hahn sold 183,728 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $920,477.28. Following the completion of the sale, the chief financial officer now owns 13,293,736 shares in the company, valued at $66,601,617.36. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 674,712 shares of company stock valued at $3,379,001 in the last 90 days. 4.80% of the stock is owned by company insiders.

Verona Pharma Trading Down 4.9 %

Shares of NASDAQ VRNA opened at $62.39 on Wednesday. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $68.64. The firm has a market capitalization of $5.02 billion, a P/E ratio of -32.49 and a beta of 0.41. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company’s 50 day simple moving average is $53.51 and its 200 day simple moving average is $40.32.

Analysts Set New Price Targets

VRNA has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $60.00 price target (up from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Roth Mkm assumed coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company upped their price objective on Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Roth Capital raised Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.14.

About Verona Pharma

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.