Seven Fleet Capital Management LP Takes Position in Veradermics, Incorporated $MANE

Seven Fleet Capital Management LP purchased a new position in shares of Veradermics, Incorporated (NYSE:MANE) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 80,000 shares of the company’s stock, valued at approximately $9,835,000. Veradermics accounts for approximately 1.6% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Veradermics during the 2nd quarter worth $8,425,000. Bamco Inc. NY raised its position in shares of Veradermics by 284.8% in the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after buying an additional 169,913 shares during the last quarter. Finally, Montanova Capital LLC purchased a new position in shares of Veradermics in the second quarter worth about $512,533,000.

Insider Buying and Selling at Veradermics

In other Veradermics news, Director John Childs sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the sale, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This represents a 34.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Montanova Capital, Llc sold 750,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the completion of the transaction, the director owned 461,033 shares of the company’s stock, valued at approximately $49,445,789.25. This trade represents a 61.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 961,000 shares of company stock valued at $103,120,220 in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. B. Riley Financial assumed coverage on shares of Veradermics in a research note on Wednesday, July 15th. They set a “buy” rating and a $170.00 target price on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. UBS Group set a $170.00 price target on shares of Veradermics in a report on Wednesday, July 15th. Finally, Lifesci Capital initiated coverage on shares of Veradermics in a research report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.00.

Veradermics Trading Up 0.6%

MANE opened at $98.36 on Friday. The stock’s 50-day moving average price is $110.34 and its 200 day moving average price is $89.65. Veradermics, Incorporated has a 12-month low of $32.00 and a 12-month high of $131.24. The firm has a market cap of $4.11 billion and a price-to-earnings ratio of -51.77.

Veradermics (NYSE:MANE) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58). On average, research analysts forecast that Veradermics, Incorporated will post -2.74 earnings per share for the current year.

About Veradermics

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.