AMI Asset Management Corp Sells 22,541 Shares of Verona Pharma plc (NASDAQ:VRNA)

AMI Asset Management Corp cut its stake in Verona Pharma plc (NASDAQ:VRNA) by 34.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,805 shares of the company’s stock after selling 22,541 shares during the quarter. AMI Asset Management Corp owned about 0.05% of Verona Pharma worth $2,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position 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 buying an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $75,000 after acquiring an additional 529 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Verona Pharma during the 3rd quarter worth approximately $169,000. Claro Advisors LLC purchased a new position in shares of Verona Pharma in the 3rd quarter valued at approximately $209,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Verona Pharma during the third quarter valued at approximately $219,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Verona Pharma Price Performance

Shares of NASDAQ VRNA opened at $51.89 on Tuesday. The firm has a market cap of $4.22 billion, a P/E ratio of -27.03 and a beta of 0.40. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $55.42. 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 50 day moving average of $42.53 and a 200 day moving average of $32.98.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the company earned ($0.18) EPS. As a group, research analysts expect that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective (up previously from $42.00) on shares of Verona Pharma in a report on Tuesday. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Canaccord Genuity Group raised their target price on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Truist Financial reissued a “buy” rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, Roth Mkm initiated coverage on Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Verona Pharma currently has an average rating of “Buy” and a consensus target price of $53.14.

Insider Buying and Selling at Verona Pharma

In related news, CEO David Zaccardelli sold 46,888 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $4.38, for a total transaction of $205,369.44. Following the completion of the sale, the chief executive officer now owns 15,298,896 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 98,704 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $5.01, for a total value of $494,507.04. Following the completion of 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. In the last 90 days, insiders have sold 1,371,768 shares of company stock worth $6,583,565. Company insiders own 4.80% of the company’s stock.

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.