HighTower Advisors LLC Cuts Stock Position in Verona Pharma plc (NASDAQ:VRNA)

HighTower Advisors LLC trimmed its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,362 shares of the company’s stock after selling 737 shares during the period. HighTower Advisors LLC’s holdings in Verona Pharma were worth $574,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value 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 approximately $21,784,949.60. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Verona Pharma Stock Performance

Shares of VRNA stock opened at $62.70 on Friday. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -32.66 and a beta of 0.39. The stock has a fifty day moving average of $62.20 and a 200 day moving average of $46.38. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $70.40. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

About Verona Pharma

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.