Veradermics (NYSE:MANE) CEO Reid Alexander Waldman Sells 67,500 Shares

Veradermics, Incorporated (NYSE:MANE) CEO Reid Alexander Waldman sold 67,500 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.86, for a total value of $7,280,550.00. Following the completion of the transaction, the chief executive officer owned 170,824 shares in the company, valued at approximately $18,425,076.64. This trade represents a 28.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Performance

Shares of MANE opened at $111.33 on Wednesday. The firm has a market capitalization of $4.65 billion and a PE ratio of -58.59. Veradermics, Incorporated has a 12 month low of $32.00 and a 12 month high of $131.24. The stock’s 50-day moving average is $110.50.

Veradermics (NYSE:MANE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58). As a group, analysts predict that Veradermics, Incorporated will post -2.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Veradermics from $136.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Wall Street Zen raised Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group set a $170.00 target price on shares of Veradermics in a research note on Wednesday, July 15th. Leerink Partners lifted their target price on Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, B. Riley Financial initiated coverage on Veradermics in a research report on Wednesday, July 15th. They set a “buy” rating and a $170.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.00.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Veradermics stock. Bamco Inc. NY boosted its holdings in shares of Veradermics, Incorporated (NYSE:MANE) by 284.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,581 shares of the company’s stock after buying an additional 169,913 shares during the period. Bamco Inc. NY owned approximately 0.55% of Veradermics worth $28,225,000 as of its most recent filing with the Securities and Exchange Commission.

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.