Castleark Management LLC Invests $8.63 Million in Verona Pharma plc (NASDAQ:VRNA)

Castleark Management LLC acquired a new stake in shares of Verona Pharma plc (NASDAQ:VRNA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 185,860 shares of the company’s stock, valued at approximately $8,631,000.

Other institutional investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC raised its stake in Verona Pharma by 5.2% in the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock worth $279,000 after acquiring an additional 305 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Verona Pharma by 1.9% in the fourth quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock valued at $834,000 after acquiring an additional 332 shares during the period. Geode Capital Management LLC increased its holdings in shares of Verona Pharma by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock valued at $2,914,000 after purchasing an additional 660 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Verona Pharma by 8.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company’s stock worth $1,061,000 after acquiring an additional 1,807 shares during the period. Finally, EMC Capital Management boosted its position in Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Insider Activity at Verona Pharma

In related news, Director Vikas Sinha sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total value of $178,400.00. Following the completion of the sale, the director now owns 74,440 shares in the company, valued at $664,004.80. This represents a 21.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathleen A. Rickard sold 79,264 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 365,064 shares of company stock valued at $3,208,741 over the last three months. 4.80% of the stock is owned by corporate insiders.

Verona Pharma Price Performance

Shares of NASDAQ VRNA opened at $74.73 on Wednesday. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $75.47. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -38.92 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The stock’s 50-day moving average is $63.96 and its two-hundred day moving average is $54.93.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. Analysts forecast that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on VRNA shares. Cowen initiated coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a “buy” rating on the stock. Cantor Fitzgerald started coverage on Verona Pharma in a research note on Monday, April 21st. They issued an “overweight” rating and a $80.00 target price for the company. TD Cowen initiated coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a “buy” rating and a $100.00 price target for the company. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price objective on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Eight 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.com, the company has a consensus rating of “Buy” and an average target price of $81.50.

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.