Kennedy Capital Management LLC Sells 12,344 Shares of Verona Pharma plc (NASDAQ:VRNA)

Kennedy Capital Management LLC cut its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,103 shares of the company’s stock after selling 12,344 shares during the period. Kennedy Capital Management LLC owned approximately 0.43% of Verona Pharma worth $16,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new stake in shares of Verona Pharma in the third quarter worth approximately $494,000. Stifel Financial Corp bought a new stake in Verona Pharma during the 3rd quarter valued at $474,000. Wellington Management Group LLP boosted its position in Verona Pharma by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock valued at $54,048,000 after acquiring an additional 307,272 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Verona Pharma in the 3rd quarter worth $327,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Verona Pharma in the 3rd quarter worth $219,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Up 6.9 %

Shares of NASDAQ VRNA opened at $57.91 on Thursday. The firm’s 50 day moving average price is $62.75 and its 200 day moving average price is $48.18. Verona Pharma plc has a 1 year low of $11.39 and a 1 year 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 market cap of $4.68 billion, a P/E ratio of -30.16 and a beta of 0.16.

Analysts Set New Price Targets

VRNA has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. HC Wainwright lifted their price objective on Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Mkm began coverage on Verona Pharma in a report on Friday, January 10th. They set a “buy” rating and a $68.00 target price on the stock. Finally, Roth Capital set a $83.00 price objective on Verona Pharma in a report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $69.14.

Insiders Place Their Bets

In other Verona Pharma 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 value of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares in the company, valued at approximately $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 this link. 4.80% of the stock is currently owned by company insiders.

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.