Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,079,555 shares of the company’s stock after selling 31,541 shares during the period. Loomis Sayles & Co. L P’s holdings in Verona Pharma were worth $50,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Verona Pharma by 77.0% during the third quarter. The Manufacturers Life Insurance Company now owns 105,159 shares of the company’s stock worth $3,025,000 after buying an additional 45,741 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Verona Pharma by 176.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,211 shares of the company’s stock worth $1,732,000 after acquiring an additional 38,434 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of Verona Pharma in the 3rd quarter worth approximately $507,000. Walleye Capital LLC purchased a new position in Verona Pharma in the 3rd quarter valued at approximately $1,859,000. Finally, Verition Fund Management LLC acquired a new position in Verona Pharma during the third quarter worth $494,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma Stock Performance

NASDAQ:VRNA opened at $64.51 on Friday. 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 firm has a market cap of $5.21 billion, a PE ratio of -33.60 and a beta of 0.39. The firm has a 50 day simple moving average of $61.98 and a 200-day simple moving average of $46.01. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VRNA has been the topic of several research reports. HC Wainwright upped their target price on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research report on Friday, February 28th. Truist Financial reiterated a “buy” rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group lifted their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $69.14.

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.