Short Interest in VERONA PHARMA P/S (NASDAQ:VRNA) Drops By 16.7%

VERONA PHARMA P/S (NASDAQ:VRNA) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 500 shares, a decline of 16.7% from the June 30th total of 600 shares. Based on an average daily trading volume, of 4,300 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

VRNA traded down $0.27 during trading on Wednesday, hitting $4.13. The company had a trading volume of 690 shares, compared to its average volume of 7,443. The stock has a market capitalization of $58.06 million, a P/E ratio of -2.04 and a beta of -1.01. VERONA PHARMA P/S has a one year low of $3.65 and a one year high of $14.50. The stock has a 50-day moving average of $4.68.

VERONA PHARMA P/S (NASDAQ:VRNA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.27). As a group, research analysts predict that VERONA PHARMA P/S will post -3.16 EPS for the current year.

Several equities analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of VERONA PHARMA P/S in a report on Monday, July 29th. ValuEngine raised shares of VERONA PHARMA P/S from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of VERONA PHARMA P/S from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Tuesday, July 16th. Finally, BTIG Research assumed coverage on shares of VERONA PHARMA P/S in a research report on Wednesday, April 17th. They issued a “buy” rating and a $17.00 price objective on the stock.

An institutional investor recently raised its position in VERONA PHARMA P/S stock. Wedbush Securities Inc. boosted its stake in VERONA PHARMA P/S (NASDAQ:VRNA) by 75.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,800 shares of the company’s stock after acquiring an additional 10,670 shares during the quarter. Wedbush Securities Inc. owned 0.19% of VERONA PHARMA P/S worth $161,000 as of its most recent SEC filing. 56.09% of the stock is owned by institutional investors and hedge funds.

VERONA PHARMA P/S Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics to treat respiratory diseases. The company's product candidate is RPL554, an inhaled dual inhibitor of the enzymes phosphodiesterase 3 and 4, which has completed Phase I and II clinical trials that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease, cystic fibrosis, chronic asthma, and allergic rhinitis.

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