Geode Capital Management LLC Sells 3,863 Shares of Verona Pharma plc (NASDAQ:VRNA)

Geode Capital Management LLC decreased its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 62,081 shares of the company’s stock after selling 3,863 shares during the quarter. Geode Capital Management LLC’s holdings in Verona Pharma were worth $1,786,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. First Turn Management LLC bought a new position in Verona Pharma during the third quarter valued at about $16,483,000. Wellington Management Group LLP grew its holdings in shares of Verona Pharma by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock worth $54,048,000 after purchasing an additional 307,272 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Verona Pharma during the third quarter valued at approximately $849,000. Crossmark Global Holdings Inc. acquired a new position in shares of Verona Pharma in the third quarter valued at $465,000. Finally, The Manufacturers Life Insurance Company bought a new position in Verona Pharma in the second quarter worth $859,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Trading Down 6.8 %

Shares of VRNA stock opened at $46.20 on Thursday. The company has a market capitalization of $3.72 billion, a P/E ratio of -24.06 and a beta of 0.40. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $51.80. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $40.88 and a 200 day moving average price of $31.21.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The firm had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same period in the prior year, the business earned ($0.18) EPS. Research analysts forecast that Verona Pharma plc will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Hahn sold 98,704 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.01, for a total value of $494,507.04. Following the completion of the transaction, the chief financial officer now owns 14,177,296 shares in the company, valued at $71,028,252.96. The trade was a 0.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.90, for a total value of $1,176,000.00. Following the completion of the transaction, the insider now owns 2,671,480 shares in the company, valued at $13,090,252. The trade was a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,094,432 shares of company stock valued at $9,748,833. 4.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on VRNA. HC Wainwright boosted their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Truist Financial reissued a “buy” rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday. Canaccord Genuity Group raised their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price objective on Verona Pharma from $64.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.67.

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.