Timothy August Durso Sells 43,500 Shares of Veradermics (NYSE:MANE) Stock

Veradermics, Incorporated (NYSE:MANE) insider Timothy August Durso sold 43,500 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the sale, the insider directly owned 78,142 shares in the company, valued at $8,425,270.44. This trade represents a 35.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Price Performance

Shares of NYSE MANE opened at $111.50 on Thursday. The firm has a 50-day moving average of $110.87. The company has a market cap of $4.66 billion and a PE ratio of -58.68. Veradermics, Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $131.24.

Veradermics (NYSE:MANE) last released its earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). On average, sell-side analysts anticipate that Veradermics, Incorporated will post -2.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MANE has been the subject of several analyst reports. Leerink Partners raised their target price on shares of Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. UBS Group set a $170.00 price target on shares of Veradermics in a research report on Wednesday, July 15th. Jefferies Financial Group increased their price target on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Needham & Company LLC boosted their price objective on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Hedge Funds Weigh In On Veradermics

A hedge fund recently bought a new stake in Veradermics stock. Wellington Management Group LLP acquired a new stake in Veradermics, Incorporated (NYSE:MANE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,531 shares of the company’s stock, valued at approximately $8,425,000. Wellington Management Group LLP owned 0.16% of Veradermics at the end of the most recent reporting period.

About Veradermics

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.