Diversify Wealth Management LLC Acquires 4,512 Shares of Verona Pharma plc (NASDAQ:VRNA)

Diversify Wealth Management LLC raised its holdings in Verona Pharma plc (NASDAQ:VRNA) by 21.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,766 shares of the company’s stock after acquiring an additional 4,512 shares during the quarter. Diversify Wealth Management LLC’s holdings in Verona Pharma were worth $1,165,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after acquiring an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Verona Pharma by 25.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after purchasing an additional 529 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Verona Pharma by 37.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 21,041 shares of the company’s stock worth $605,000 after purchasing an additional 5,691 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Verona Pharma during the 3rd quarter worth $169,000. Finally, Claro Advisors LLC bought a new stake in Verona Pharma during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Verona Pharma Stock Down 3.3 %

Shares of Verona Pharma stock opened at $51.89 on Tuesday. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $55.42. The firm’s 50 day moving average price is $42.53 and its 200-day moving average price is $32.98. 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 company has a market cap of $4.22 billion, a P/E ratio of -27.03 and a beta of 0.40.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly 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 during the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. On average, sell-side analysts predict that Verona Pharma plc will post -1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRNA. Canaccord Genuity Group increased their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial reissued a “buy” rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. 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. Roth Capital upgraded shares of Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.57.

Insider Activity at Verona Pharma

In other news, CEO David Zaccardelli sold 46,888 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $4.38, for a total transaction of $205,369.44. Following the transaction, the chief executive officer now owns 15,298,896 shares in the company, valued at $67,009,164.48. This represents a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Hahn sold 141,360 shares of Verona Pharma stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $4.38, for a total transaction of $619,156.80. Following the completion of the sale, the chief financial officer now owns 13,672,560 shares of the company’s stock, valued at $59,885,812.80. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,371,768 shares of company stock valued at $6,583,565 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

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.