Short Interest in Verona Pharma plc (NASDAQ:VRNA) Drops By 42.7%

Verona Pharma plc (NASDAQ:VRNAGet Rating) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 18,500 shares, a drop of 42.7% from the April 30th total of 32,300 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 85,200 shares, the short-interest ratio is presently 0.2 days.

VRNA has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Verona Pharma in a research report on Monday, May 23rd. Zacks Investment Research raised shares of Verona Pharma from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research report on Saturday, May 7th.

In related news, insider Kathleen A. Rickard sold 59,720 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $0.54, for a total value of $32,248.80. Following the completion of the transaction, the insider now directly owns 2,546,408 shares of the company’s stock, valued at approximately $1,375,060.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen A. Rickard sold 112,800 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $0.59, for a total transaction of $66,552.00. Following the completion of the transaction, the insider now directly owns 2,606,128 shares of the company’s stock, valued at $1,537,615.52. The disclosure for this sale can be found here. Insiders sold a total of 246,688 shares of company stock worth $135,597 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Several large investors have recently bought and sold shares of VRNA. Wellington Management Group LLP grew its stake in Verona Pharma by 9.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,294,038 shares of the company’s stock valued at $23,531,000 after acquiring an additional 382,198 shares during the period. Citigroup Inc. acquired a new stake in Verona Pharma in the 3rd quarter valued at $2,715,000. D.A. Davidson & CO. grew its stake in Verona Pharma by 20.0% in the 4th quarter. D.A. Davidson & CO. now owns 48,000 shares of the company’s stock valued at $323,000 after acquiring an additional 8,000 shares during the period. Citadel Advisors LLC acquired a new stake in Verona Pharma in the 3rd quarter valued at $125,000. Finally, Millennium Management LLC acquired a new stake in Verona Pharma in the 3rd quarter valued at $81,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:VRNA opened at $4.48 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.04 and a quick ratio of 4.04. The firm has a market cap of $270.45 million, a price-to-earnings ratio of -3.76 and a beta of 0.67. The company has a 50 day moving average price of $4.33 and a 200-day moving average price of $5.19. Verona Pharma has a 1-year low of $3.41 and a 1-year high of $7.87.

Verona Pharma (NASDAQ:VRNAGet Rating) last posted its earnings results on Thursday, March 3rd. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.10. On average, sell-side analysts anticipate that Verona Pharma will post -1.56 earnings per share for the current fiscal year.

Verona Pharma Company Profile (Get Rating)

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.

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