Veradermics (NYSE:MANE) Insider Sells $4,690,170.00 in Stock

Veradermics, Incorporated (NYSE:MANE) insider Timothy August Durso sold 43,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the transaction, the insider directly owned 78,142 shares in the company, valued at approximately $8,425,270.44. This trade represents a 35.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Down 6.0%

Veradermics stock opened at $104.57 on Friday. The company has a market capitalization of $4.37 billion and a P/E ratio of -55.04. The company’s 50 day moving average is $111.07. Veradermics, Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $131.24.

Veradermics (NYSE:MANE) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). As a group, research analysts expect that Veradermics, Incorporated will post -2.74 earnings per share for the current year.

Institutional Trading of Veradermics

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in Veradermics during the 2nd quarter worth approximately $8,425,000. Montanova Capital LLC purchased a new position in shares of Veradermics in the second quarter worth $512,533,000. Finally, Bamco Inc. NY raised its holdings in shares of Veradermics by 284.8% in the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group set a $170.00 price objective on shares of Veradermics in a report on Wednesday, July 15th. Jefferies Financial Group lifted their target price on Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Lifesci Capital started coverage on shares of Veradermics in a research report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Veradermics Company Profile

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.