Clearbridge Investments LLC Boosts Stock Holdings in Verona Pharma plc (NASDAQ:VRNA)

Clearbridge Investments LLC lifted its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,609 shares of the company’s stock after acquiring an additional 6,645 shares during the quarter. Clearbridge Investments LLC owned 0.32% of Verona Pharma worth $4,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cape Investment Advisory Inc. purchased a new stake in shares of Verona Pharma during the fourth quarter worth $40,000. Tower Research Capital LLC TRC increased its holdings in Verona Pharma by 950.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock valued at $89,000 after buying an additional 4,067 shares during the last quarter. Jump Financial LLC purchased a new position in Verona Pharma in the fourth quarter valued at $226,000. Matisse Capital purchased a new position in Verona Pharma in the first quarter valued at $312,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Verona Pharma by 35.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,200 shares of the company’s stock valued at $325,000 after buying an additional 5,322 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Verona Pharma Stock Performance

Shares of VRNA traded up $0.31 during mid-day trading on Thursday, hitting $21.38. 58,291 shares of the company’s stock were exchanged, compared to its average volume of 855,963. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $23.72. The firm has a market capitalization of $1.73 billion, a P/E ratio of -27.36 and a beta of 0.44. The business’s 50 day moving average is $15.67 and its two-hundred day moving average is $16.27. The company has a current ratio of 18.40, a quick ratio of 18.40 and a debt-to-equity ratio of 0.22.

Verona Pharma (NASDAQ:VRNA) last announced its 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). On average, equities analysts expect that Verona Pharma plc will post -1.58 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 36,248 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the sale, the insider now owns 2,621,552 shares in the company, valued at $5,138,241.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.80% of the stock is 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.