HighVista Strategies LLC Has $683,000 Stake in Verona Pharma plc (NASDAQ:VRNA)

HighVista Strategies LLC trimmed its position in Verona Pharma plc (NASDAQ:VRNA) by 26.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,739 shares of the company’s stock after selling 8,710 shares during the quarter. HighVista Strategies LLC’s holdings in Verona Pharma were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC acquired a new stake in shares of Verona Pharma during the 2nd quarter worth approximately $29,000. EMC Capital Management acquired a new stake in shares of Verona Pharma in the second quarter valued at $38,000. GAMMA Investing LLC increased its position in Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after acquiring an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after purchasing an additional 529 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in shares of Verona Pharma during the second quarter worth $154,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Verona Pharma

In related news, Director David R. Ebsworth acquired 39,360 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of $4.80 per share, with a total value of $188,928.00. Following the transaction, the director now directly owns 920,003 shares of the company’s stock, valued at $4,416,014.40. This trade represents a 4.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 98,704 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.01, for a total value of $494,507.04. Following the transaction, the chief financial officer now directly owns 14,177,296 shares in the company, valued at $71,028,252.96. The trade was a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,622,112 shares of company stock valued at $7,383,768. 4.80% of the stock is currently owned by insiders.

Verona Pharma Price Performance

Shares of NASDAQ:VRNA opened at $39.11 on Tuesday. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $40.76. The company’s 50 day simple moving average is $34.85 and its 200 day simple moving average is $25.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VRNA. HC Wainwright increased their price objective 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. Wells Fargo & Company lifted their price target on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Truist Financial boosted their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.83.

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.