Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) Short Interest Update

Verrica Pharmaceuticals Inc. (NASDAQ:VRCAGet Rating) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 1,000,000 shares, a decrease of 16.7% from the June 30th total of 1,200,000 shares. Based on an average daily trading volume, of 558,800 shares, the short-interest ratio is currently 1.8 days. Currently, 6.6% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, insider Christopher G. Hayes bought 7,500 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was purchased at an average price of $3.40 per share, with a total value of $25,500.00. Following the completion of the acquisition, the insider now owns 15,714 shares of the company’s stock, valued at $53,427.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Christopher G. Hayes bought 7,500 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was purchased at an average price of $3.40 per share, with a total value of $25,500.00. Following the completion of the acquisition, the insider now owns 15,714 shares of the company’s stock, valued at $53,427.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ted White bought 23,809 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was bought at an average cost of $2.10 per share, with a total value of $49,998.90. Following the acquisition, the chief executive officer now directly owns 29,466 shares of the company’s stock, valued at approximately $61,878.60. The disclosure for this purchase can be found here. Insiders have bought 1,703,689 shares of company stock worth $3,587,497 over the last ninety days. Corporate insiders own 43.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRCA. Allspring Global Investments Holdings LLC bought a new position in Verrica Pharmaceuticals during the 4th quarter worth approximately $52,000. Goldman Sachs Group Inc. acquired a new stake in shares of Verrica Pharmaceuticals during the 1st quarter worth approximately $88,000. Truist Financial Corp acquired a new stake in shares of Verrica Pharmaceuticals during the 1st quarter worth approximately $92,000. PDT Partners LLC acquired a new stake in shares of Verrica Pharmaceuticals during the 4th quarter worth approximately $99,000. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $240,000. Institutional investors own 34.58% of the company’s stock.

Analyst Upgrades and Downgrades

VRCA has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Verrica Pharmaceuticals in a report on Wednesday, June 29th. Needham & Company LLC lowered shares of Verrica Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Finally, Royal Bank of Canada lowered shares of Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $16.00 to $4.00 in a report on Wednesday, May 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.80.

Verrica Pharmaceuticals Stock Performance

Verrica Pharmaceuticals stock opened at $3.05 on Wednesday. Verrica Pharmaceuticals has a 52-week low of $1.77 and a 52-week high of $14.79. The firm has a 50 day moving average price of $2.57 and a two-hundred day moving average price of $5.88. The firm has a market cap of $83.94 million, a price-to-earnings ratio of -1.96 and a beta of 2.16.

Verrica Pharmaceuticals (NASDAQ:VRCAGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.29. The firm had revenue of $0.43 million for the quarter. As a group, equities research analysts predict that Verrica Pharmaceuticals will post -1.13 EPS for the current fiscal year.

About Verrica Pharmaceuticals

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Verrica Pharmaceuticals Inc, a dermatology therapeutics company, develops and commercializes treatments for people with skin diseases in the United States. The company's lead product candidate includes VP-102 for the treatment of molluscum contagiosum; that has completed Phase II clinical trial for the treatment of external genital warts; and which is in Phase II clinical trial for treating common warts.

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