Diversify Wealth Management LLC Takes Position in Verona Pharma plc (NASDAQ:VRNA)

Diversify Wealth Management LLC acquired a new position in shares of Verona Pharma plc (NASDAQ:VRNA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,254 shares of the company’s stock, valued at approximately $611,000.

Other institutional investors have also recently modified their holdings of the company. CWM LLC acquired a new stake in Verona Pharma during the 2nd quarter valued at $29,000. EMC Capital Management purchased a new stake in shares of Verona Pharma in the second quarter valued at $38,000. GAMMA Investing LLC boosted its stake in shares of Verona Pharma by 70.6% during the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after acquiring an additional 553 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Verona Pharma by 25.4% during 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 in the last quarter. Finally, Legato Capital Management LLC purchased a new stake in Verona Pharma during the 2nd quarter worth about $154,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company started coverage on shares of Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Truist Financial lifted their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a research note on Tuesday, October 1st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $39.33.

Insider Buying and Selling at Verona Pharma

In other news, CFO Mark W. Hahn sold 249,728 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,093,808.64. Following the transaction, the chief financial officer now directly owns 14,089,960 shares in the company, valued at $61,714,024.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Mark W. Hahn sold 141,360 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $4.38, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Hahn sold 249,728 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,093,808.64. Following the completion of the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at approximately $61,714,024.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 868,840 shares of company stock valued at $3,805,519. Company insiders own 4.80% of the company’s stock.

Verona Pharma Price Performance

VRNA opened at $33.93 on Friday. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $35.62. The company’s 50 day simple moving average is $30.45 and its 200 day simple moving average is $21.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same quarter in the prior year, the business posted ($0.11) EPS. On average, equities analysts forecast that Verona Pharma plc will post -2.07 EPS for the current year.

Verona Pharma 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.