Transcend Capital Advisors LLC Invests $225,000 in Verona Pharma plc (NASDAQ:VRNA)

Transcend Capital Advisors LLC acquired a new position in Verona Pharma plc (NASDAQ:VRNA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,835 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after purchasing an additional 276 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of 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 purchasing an additional 305 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after purchasing an additional 529 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Verona Pharma by 8.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company’s stock worth $1,061,000 after purchasing an additional 1,807 shares during the last quarter. Finally, EMC Capital Management grew its stake in shares of Verona Pharma by 3,400.0% in the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Stock Performance

Shares of VRNA opened at $67.96 on Monday. The company’s 50 day moving average price is $52.64 and its 200 day moving average price is $39.73. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $68.64. The company has a market capitalization of $5.56 billion, a PE ratio of -35.40 and a beta of 0.41. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Analyst Upgrades and Downgrades

VRNA has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $60.00 target price (up from $42.00) on shares of Verona Pharma in a research report on Tuesday, January 21st. Roth Mkm initiated coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a research report on Friday, January 10th. Finally, Truist Financial reissued a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $57.14.

Insider Activity at Verona Pharma

In related news, CEO David Zaccardelli sold 23,240 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 15,177,512 shares of the company’s stock, valued at approximately $75,887,560. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Hahn sold 98,704 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.01, for a total transaction of $494,507.04. Following the transaction, the chief financial officer now directly owns 14,177,296 shares in the company, valued at $71,028,252.96. The trade was a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 710,888 shares of company stock valued at $3,559,881. Corporate insiders own 4.80% of the company’s stock.

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.