Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Verona Pharma plc (NASDAQ:VRNA) by 14.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 56,602 shares of the company’s stock after selling 9,472 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Verona Pharma worth $2,629,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRNA shares. Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Verona Pharma in a report on Monday, April 21st. They set an “overweight” rating and a $80.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research note on Friday, February 28th. Finally, HC Wainwright increased their target price on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $75.43.

Verona Pharma Trading Up 1.0 %

Shares of Verona Pharma stock opened at $65.46 on Friday. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $62.40 and a 200-day simple moving average of $50.68. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of -34.09 and a beta of 0.16. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40.

Insider Activity at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma 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 sale, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by corporate insiders.

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.