407,050 Shares in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Bought by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) in the 4th quarter, Holdings Channel reports. The institutional investor bought 407,050 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds have also recently made changes to their positions in VRCA. Verition Fund Management LLC acquired a new position in Verrica Pharmaceuticals in the 3rd quarter valued at approximately $89,000. State Street Corp grew its stake in shares of Verrica Pharmaceuticals by 13.5% in the third quarter. State Street Corp now owns 512,821 shares of the company’s stock worth $744,000 after purchasing an additional 61,041 shares during the last quarter. Jane Street Group LLC increased its holdings in Verrica Pharmaceuticals by 106.5% in the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock valued at $101,000 after purchasing an additional 36,028 shares during the period. XTX Topco Ltd bought a new position in Verrica Pharmaceuticals during the 3rd quarter worth $335,000. Finally, Barclays PLC lifted its holdings in Verrica Pharmaceuticals by 404.6% during the 3rd quarter. Barclays PLC now owns 31,341 shares of the company’s stock worth $45,000 after buying an additional 25,130 shares during the period. 42.45% of the stock is owned by institutional investors and hedge funds.

Verrica Pharmaceuticals Stock Performance

Shares of VRCA stock opened at $0.65 on Friday. Verrica Pharmaceuticals Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $11.41. The stock has a 50 day simple moving average of $0.71 and a two-hundred day simple moving average of $1.65. The company has a market cap of $29.73 million, a P/E ratio of -0.36 and a beta of 1.47.

Analysts Set New Price Targets

VRCA has been the subject of several recent research reports. HC Wainwright cut Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $11.00 to $2.00 in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Friday, December 20th. Finally, TD Cowen lowered their target price on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

Verrica Pharmaceuticals Profile

Verrica Pharmaceuticals Inc, a clinical-stage dermatology therapeutics company, develops medications for the treatment of skin diseases in the United States. Its product pipeline comprises YCANTH (VP-102), which is in phase III clinical trial for the treatment of common warts; and has completed phase II clinical trial for the treatment of external genital warts.