Kennedy Capital Management LLC Reduces Position in Verona Pharma plc (NASDAQ:VRNA)

Kennedy Capital Management LLC cut its holdings in shares of Verona Pharma plc (NASDAQ:VRNA) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 346,103 shares of the company’s stock after selling 12,344 shares during the quarter. Kennedy Capital Management LLC’s holdings in Verona Pharma were worth $16,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after acquiring an additional 276 shares during the period. EMC Capital Management raised its stake in Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock valued at $163,000 after purchasing an additional 3,400 shares during the period. Wrapmanager Inc. bought a new stake in Verona Pharma during the 4th quarter valued at approximately $207,000. Transcend Capital Advisors LLC purchased a new position in Verona Pharma during the 4th quarter valued at approximately $225,000. Finally, Raymond James Financial Inc. purchased a new position in Verona Pharma during the 4th quarter valued at approximately $225,000. Institutional investors own 85.88% of the company’s stock.

Verona Pharma Price Performance

VRNA opened at $57.91 on Thursday. The business has a fifty day moving average of $62.75 and a 200 day moving average of $48.18. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $70.40. 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 stock has a market cap of $4.68 billion, a P/E ratio of -30.16 and a beta of 0.16.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VRNA shares. Roth Mkm started coverage on Verona Pharma in a report on Friday, January 10th. They set a “buy” rating and a $68.00 price target for the company. Canaccord Genuity Group raised their price target on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Truist Financial reiterated a “buy” rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Finally, HC Wainwright lifted their target price on Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.14.

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was 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. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

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.