Advisors Preferred LLC Sells 1,591 Shares of Verona Pharma plc (NASDAQ:VRNA)

Advisors Preferred LLC reduced its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 62.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 967 shares of the company’s stock after selling 1,591 shares during the period. Advisors Preferred LLC’s holdings in Verona Pharma were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Eventide Asset Management LLC raised its stake in shares of Verona Pharma by 359.6% in the third quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company’s stock worth $69,792,000 after acquiring an additional 1,898,065 shares during the last quarter. Maverick Capital Ltd. raised its stake in shares of Verona Pharma by 36.3% in the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company’s stock worth $121,294,000 after acquiring an additional 1,123,166 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Verona Pharma in the third quarter worth about $31,966,000. Jennison Associates LLC raised its stake in shares of Verona Pharma by 54.3% in the third quarter. Jennison Associates LLC now owns 1,740,886 shares of the company’s stock worth $50,085,000 after acquiring an additional 612,854 shares during the last quarter. Finally, First Turn Management LLC bought a new position in shares of Verona Pharma in the third quarter worth about $16,483,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Performance

Shares of NASDAQ:VRNA opened at $60.26 on Friday. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $62.00. 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 company has a 50 day moving average price of $47.98 and a two-hundred day moving average price of $36.60.

Insider Transactions at Verona Pharma

In other news, CEO David Zaccardelli sold 23,240 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total transaction of $116,200.00. Following the completion of the sale, the chief executive officer now owns 15,177,512 shares of the company’s stock, valued at $75,887,560. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Hahn sold 12,936 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total transaction of $64,680.00. Following the sale, the chief financial officer now directly owns 14,276,000 shares of the company’s stock, valued at $71,380,000. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 954,888 shares of company stock valued at $4,755,881 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Roth Mkm initiated coverage on shares of Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 price objective (up from $42.00) on shares of Verona Pharma in a report on Tuesday, January 21st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.14.

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.