Choreo LLC Acquires Shares of 4,893 Verona Pharma plc (NASDAQ:VRNA)

Choreo LLC bought a new position in Verona Pharma plc (NASDAQ:VRNA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,893 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently modified their holdings of VRNA. GAMMA Investing LLC boosted its holdings in Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after buying an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Verona Pharma by 25.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after acquiring an additional 529 shares during the period. EMC Capital Management grew its position in shares of Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock valued at $163,000 after purchasing an additional 3,400 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Verona Pharma during the 3rd quarter valued at $169,000. Finally, Claro Advisors LLC purchased a new stake in Verona Pharma during the 3rd quarter worth about $209,000. Institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $60.00 price target (up from $42.00) on shares of Verona Pharma in a research report on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Roth Mkm began coverage on shares of Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price target for the company. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Finally, Truist Financial reissued a “buy” rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research note 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 company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $57.14.

Verona Pharma Trading Up 4.1 %

NASDAQ VRNA opened at $64.21 on Friday. 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 stock’s 50-day simple moving average is $49.68 and its two-hundred day simple moving average is $37.67. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $65.50. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -33.44 and a beta of 0.41.

Insider Activity

In related news, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the transaction, the insider now owns 2,671,480 shares of the company’s stock, valued at approximately $13,090,252. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Zaccardelli sold 23,240 shares of Verona Pharma stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total transaction of $116,200.00. Following the completion of the transaction, the chief executive officer now owns 15,177,512 shares in the company, valued at approximately $75,887,560. The trade was a 0.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 952,488 shares of company stock worth $4,743,881. 4.80% of the stock is currently owned by insiders.

About Verona Pharma

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.