Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Knott David M Jr

Knott David M Jr decreased its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 159,300 shares of the company’s stock after selling 20,700 shares during the quarter. Verona Pharma comprises 2.7% of Knott David M Jr’s holdings, making the stock its 6th biggest position. Knott David M Jr’s holdings in Verona Pharma were worth $7,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new stake in shares of Verona Pharma in the fourth quarter valued at about $1,447,000. Geode Capital Management LLC increased its position in Verona Pharma by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock valued at $2,914,000 after acquiring an additional 660 shares during the period. Franklin Resources Inc. raised its stake in Verona Pharma by 41.3% during the 4th quarter. Franklin Resources Inc. now owns 791,104 shares of the company’s stock valued at $36,739,000 after acquiring an additional 231,376 shares during the last quarter. Wellington Management Group LLP lifted its position in Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock worth $140,492,000 after acquiring an additional 1,146,609 shares during the period. Finally, Prudential Financial Inc. lifted its position in Verona Pharma by 17.8% during the 4th quarter. Prudential Financial Inc. now owns 208,100 shares of the company’s stock worth $9,664,000 after acquiring an additional 31,432 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Verona Pharma Trading Up 1.3 %

Shares of Verona Pharma stock opened at $63.49 on Tuesday. The company has a 50-day moving average of $62.43 and a two-hundred day moving average of $46.73. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.13 billion, a PE ratio of -33.07 and a beta of 0.39.

Insider Buying and Selling

In other news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Roth Mkm assumed coverage on shares of Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Truist Financial reiterated a “buy” rating and set a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Finally, HC Wainwright lifted their price objective on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Verona Pharma currently has an average rating of “Buy” and a consensus target price of $69.14.

Verona Pharma 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.