HBK Sorce Advisory LLC Increases Position in Verona Pharma plc (NASDAQ:VRNA)

HBK Sorce Advisory LLC increased its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 387.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,814 shares of the company’s stock after buying an additional 28,461 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Verona Pharma were worth $1,663,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VRNA. Atria Investments Inc purchased a new stake in Verona Pharma in the third quarter valued at $548,000. Crossmark Global Holdings Inc. purchased a new stake in Verona Pharma in the third quarter valued at $465,000. GSA Capital Partners LLP purchased a new stake in Verona Pharma in the third quarter valued at $849,000. Claro Advisors LLC purchased a new stake in Verona Pharma in the third quarter valued at $209,000. Finally, First Turn Management LLC purchased a new stake in Verona Pharma in the third quarter valued at $16,483,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 79,264 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. This represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

Verona Pharma Trading Down 3.3 %

Shares of Verona Pharma stock opened at $65.36 on Friday. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $70.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The firm has a 50-day simple moving average of $58.49 and a two-hundred day simple moving average of $43.35. The company has a market cap of $5.28 billion, a P/E ratio of -34.04 and a beta of 0.39.

Analyst Upgrades and Downgrades

Several research firms have commented on VRNA. Canaccord Genuity Group upped their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research report on Friday, February 28th. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, HC Wainwright upped their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verona Pharma presently has an average rating of “Buy” and a consensus price target of $69.14.

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.