Mark W. Hahn Sells 141,360 Shares of Verona Pharma plc (NASDAQ:VRNA) Stock

Verona Pharma plc (NASDAQ:VRNA) CFO Mark W. Hahn sold 141,360 shares of Verona Pharma stock in a transaction dated 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 directly owns 13,672,560 shares in the company, valued at approximately $59,885,812.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Verona Pharma Stock Performance

Shares of NASDAQ:VRNA traded down $0.57 during trading on Friday, hitting $33.86. 775,757 shares of the company were exchanged, compared to its average volume of 913,695. 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 plc has a 52-week low of $11.39 and a 52-week high of $35.62. The company has a market cap of $2.71 billion, a PE ratio of -43.97 and a beta of 0.44. The stock has a 50 day moving average of $29.96 and a 200 day moving average of $21.47.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period last year, the company posted ($0.11) earnings per share. As a group, equities research analysts predict that Verona Pharma plc will post -2.07 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Verona Pharma

Hedge funds have recently bought and sold shares of the company. Maverick Capital Ltd. lifted its stake in Verona Pharma by 74.2% in the 2nd quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock worth $44,722,000 after purchasing an additional 1,316,998 shares in the last quarter. Candriam S.C.A. bought a new position in shares of Verona Pharma in the second quarter worth $11,177,000. NEA Management Company LLC raised its position in shares of Verona Pharma by 9.3% in the second quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after buying an additional 476,190 shares in the last quarter. American Century Companies Inc. boosted its stake in Verona Pharma by 56.6% during the second quarter. American Century Companies Inc. now owns 878,043 shares of the company’s stock valued at $12,697,000 after buying an additional 317,184 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its position in Verona Pharma by 10.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock worth $47,925,000 after buying an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 85.88% 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.