Diversify Advisory Services LLC Takes Position in Verona Pharma plc (NASDAQ:VRNA)

Diversify Advisory Services LLC purchased a new position in shares of Verona Pharma plc (NASDAQ:VRNA) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,861 shares of the company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in shares of Verona Pharma by 1,054.4% in the first quarter. BNP Paribas Financial Markets now owns 23,412 shares of the company’s stock worth $377,000 after acquiring an additional 21,384 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Verona Pharma during the 1st quarter worth $412,000. Jennison Associates LLC lifted its holdings in Verona Pharma by 0.5% during the 1st quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock worth $25,645,000 after buying an additional 8,448 shares in the last quarter. Sei Investments Co. boosted its position in Verona Pharma by 3.7% in the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock valued at $1,195,000 after buying an additional 2,640 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Verona Pharma by 2.7% in the 1st quarter. Clearbridge Investments LLC now owns 255,609 shares of the company’s stock valued at $4,113,000 after buying an additional 6,645 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VRNA shares. Canaccord Genuity Group raised their price target on Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of Verona Pharma in a research note on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of Verona Pharma in a research report on Thursday, October 3rd. They set an “overweight” rating and a $50.00 price target for the company. Finally, Truist Financial increased their price objective on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $39.33.

Insiders Place Their Bets

In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $483,797.28. Following the completion of the sale, the chief executive officer now directly owns 14,894,464 shares in the company, valued at $65,237,752.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Verona Pharma news, CFO Mark W. Hahn sold 116,696 shares of Verona Pharma stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $4.38, for a total value of $511,128.48. Following the transaction, the chief financial officer now owns 13,973,264 shares of the company’s stock, valued at approximately $61,202,896.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Zaccardelli sold 110,456 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $4.38, for a total transaction of $483,797.28. Following the completion of the transaction, the chief executive officer now owns 14,894,464 shares of the company’s stock, valued at $65,237,752.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 868,840 shares of company stock worth $3,805,519. Corporate insiders own 4.80% of the company’s stock.

Verona Pharma Stock Performance

Shares of NASDAQ:VRNA opened at $34.98 on Friday. The firm’s 50 day simple moving average is $30.61 and its 200 day simple moving average is $22.09. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $35.62. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -22.71 and a beta of 0.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the prior year, the business posted ($0.11) EPS. As a group, sell-side analysts forecast that Verona Pharma plc will post -2.07 earnings per share for the current year.

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.