Kennedy Capital Management LLC Sells 42,442 Shares of Verona Pharma plc (NASDAQ:VRNA)

Kennedy Capital Management LLC cut its stake in Verona Pharma plc (NASDAQ:VRNA) by 25.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,215 shares of the company’s stock after selling 42,442 shares during the period. Kennedy Capital Management LLC owned 0.15% of Verona Pharma worth $1,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRNA. Jennison Associates LLC boosted its stake in shares of Verona Pharma by 0.5% in the 1st quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock valued at $25,645,000 after purchasing an additional 8,448 shares during the last quarter. Eventide Asset Management LLC grew its holdings in Verona Pharma by 62.1% during the 4th quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock worth $27,390,000 after acquiring an additional 527,781 shares during the period. First Turn Management LLC bought a new position in shares of Verona Pharma in the 4th quarter worth about $23,981,000. Bellevue Group AG lifted its stake in shares of Verona Pharma by 35.6% in the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company’s stock valued at $18,331,000 after purchasing an additional 299,299 shares during the period. Finally, Hood River Capital Management LLC boosted its position in shares of Verona Pharma by 4.3% during the 1st quarter. Hood River Capital Management LLC now owns 987,756 shares of the company’s stock valued at $15,893,000 after purchasing an additional 41,154 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Trading Up 2.2 %

Shares of Verona Pharma stock traded up $0.49 during trading on Wednesday, reaching $22.52. 116,842 shares of the stock were exchanged, compared to its average volume of 852,175. The company has a quick ratio of 18.40, a current ratio of 18.40 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -28.61 and a beta of 0.44. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $23.72. The stock’s fifty day moving average is $16.43 and its 200 day moving average is $16.34.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). As a group, equities research analysts expect that Verona Pharma plc will post -1.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VRNA shares. Canaccord Genuity Group increased their price target on Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Truist Financial boosted their target price on Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. HC Wainwright increased their price target on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Piper Sandler lifted their target price on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $36.00.

Insiders Place Their Bets

In other news, insider Kathleen A. Rickard sold 36,248 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the sale, the insider now directly owns 2,621,552 shares of the company’s stock, valued at approximately $5,138,241.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.80% of the stock is owned by corporate 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.