M&T Bank Corp Has $296,000 Stock Holdings in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

M&T Bank Corp trimmed its position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,669 shares of the company’s stock after selling 574 shares during the quarter. M&T Bank Corp’s holdings in Verona Pharma PLC American Depositary Share were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. acquired a new position in Verona Pharma PLC American Depositary Share in the 4th quarter valued at $46,000. GF Fund Management CO. LTD. acquired a new stake in shares of Verona Pharma PLC American Depositary Share during the 4th quarter worth $72,000. Avanza Fonder AB bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 1st quarter worth $100,000. Finally, GAMMA Investing LLC lifted its position in shares of Verona Pharma PLC American Depositary Share by 14.0% during the 1st quarter. GAMMA Investing LLC now owns 1,837 shares of the company’s stock worth $117,000 after buying an additional 225 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

VRNA has been the subject of several research reports. Piper Sandler downgraded Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Roth Capital cut Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Jefferies Financial Group restated a “hold” rating and issued a $107.00 target price (down from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, July 9th. HC Wainwright restated a “neutral” rating and set a $107.00 target price (up from $90.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Monday. Finally, TD Cowen cut Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $109.00.

Insider Buying and Selling at Verona Pharma PLC American Depositary Share

In related news, General Counsel Andrew Fisher sold 80,000 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $11.53, for a total transaction of $922,400.00. Following the sale, the general counsel owned 359,999 shares of the company’s stock, valued at approximately $4,150,788.47. The trade was a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Zaccardelli sold 400,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the sale, the chief executive officer directly owned 13,190,168 shares in the company, valued at $150,367,915.20. This trade represents a 2.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is currently owned by corporate insiders.

Verona Pharma PLC American Depositary Share Stock Performance

Shares of VRNA stock opened at $104.78 on Friday. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $86.72 and its 200-day simple moving average is $69.28. Verona Pharma PLC American Depositary Share has a 12-month low of $18.51 and a 12-month high of $104.99. The company has a market cap of $8.92 billion, a PE ratio of -52.39 and a beta of 0.24.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last posted its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analysts’ expectations of $41.47 million. Analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Verona Pharma PLC American Depositary Share 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.