Verona Pharma plc (NASDAQ:VRNA) closed Tuesday at $23.06 per share, up from $22.53 a day earlier. While Verona Pharma plc has overperformed by 2.35%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VRNA rose by 262.01%, with highs and lows ranging from $26.44 to $3.41, whereas the simple moving average jumped by 135.00% in the last 200 days.
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On September 19, 2022, Wedbush started tracking Verona Pharma plc (NASDAQ: VRNA) recommending Outperform. A report published by Piper Sandler on August 26, 2022, Initiated its previous ‘Overweight’ rating for VRNA. H.C. Wainwright also rated VRNA shares as ‘Buy’, setting a target price of $25 on the company’s shares in an initiating report dated September 13, 2021. Jefferies Initiated an Buy rating on August 25, 2020, and assigned a price target of $17. Canaccord Genuity initiated its ‘Buy’ rating for VRNA, as published in its report on August 10, 2020. BTIG Research’s report from April 18, 2019 suggests a price prediction of $17 for VRNA shares, giving the stock a ‘Buy’ rating.
As an indicator of volatility for any stock, average volume can also be very valuable, and VRNA is recording an average volume of 906.96K. On a monthly basis, the volatility of the stock is set at 8.35%, whereas on a weekly basis, it is put at 4.51%, with a loss of -2.66% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.57, showing growth from the present price of $23.06, which can serve as yet another indication of whether VRNA is worth investing in or should be passed over.
How Do You Analyze Verona Pharma plc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 10.53%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 68.56% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in VRNA shares?
The recent increase in stakes in VRNA appears to be a result of several institutional investors and hedge funds increasing their positions. RA Capital Management LP’s position in VRNA has increased by 18.63% in the first quarter. The company now owns 6,050,000 shares of the stock, with a value of $158.09 million, following the purchase of 950,000 additional shares during the last quarter. Perceptive Advisors LLC made another increased to its shares in VRNA during the first quarter, upping its stake by 73.14%. During the last quarter, the company picked up 2,132,118 additional shares for a total stake of worth $131.89 million, bringing number of shares owned by the company to 5,047,264.
At the end of the first quarter, Fairmount Funds Management LLC increased its VRNA holdings by 189.12% and now holds 2.68 million VRNA shares valued at $70.0 million with the added 1.75 million shares during the period. VRNA shares are owned by institutional investors to the tune of 68.56% at present.
