Verona Pharma plc (NASDAQ:VRNA) Shares Sold by BIT Capital GmbH

BIT Capital GmbH cut its position in Verona Pharma plc (NASDAQ:VRNA) by 86.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,830 shares of the company’s stock after selling 199,373 shares during the period. BIT Capital GmbH’s holdings in Verona Pharma were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after purchasing an additional 276 shares in the last quarter. EMC Capital Management boosted its position in shares of Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after acquiring an additional 3,400 shares in the last quarter. Wrapmanager Inc. purchased a new position in shares of Verona Pharma in the 4th quarter valued at about $207,000. Sanctuary Advisors LLC acquired a new stake in shares of Verona Pharma during the 3rd quarter worth about $219,000. Finally, Transcend Capital Advisors LLC purchased a new stake in Verona Pharma during the fourth quarter worth approximately $225,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kathleen A. Rickard sold 79,264 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

Verona Pharma Stock Down 3.0 %

Shares of NASDAQ:VRNA opened at $64.18 on Thursday. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40. 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 stock has a market cap of $5.19 billion, a P/E ratio of -33.43 and a beta of 0.39. The firm has a fifty day moving average price of $61.76 and a 200 day moving average price of $45.88.

Analyst Ratings Changes

Several equities analysts have commented on VRNA shares. Wells Fargo & Company increased their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Roth Mkm began coverage on shares of Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 price target on the stock. HC Wainwright boosted their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $83.00 price objective on Verona Pharma in a report on Friday, February 28th. Finally, Canaccord Genuity Group boosted their target price on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $69.14.

Verona Pharma Company 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.