Montanova Capital, Llc Sells 750,000 Shares of Veradermics (NYSE:MANE) Stock

Veradermics, Incorporated (NYSE:MANE) Director Montanova Capital, Llc sold 750,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the completion of the sale, the director directly owned 461,033 shares in the company, valued at approximately $49,445,789.25. This represents a 61.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Veradermics Trading Down 1.9%

Veradermics stock opened at $103.33 on Friday. The stock has a market cap of $4.32 billion and a PE ratio of -54.38. The stock’s fifty day moving average price is $111.22. Veradermics, Incorporated has a 12-month low of $32.00 and a 12-month high of $131.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of Veradermics during the second quarter worth about $8,425,000. Seven Fleet Capital Management LP purchased a new stake in Veradermics during the 2nd quarter valued at approximately $9,835,000. Bamco Inc. NY lifted its position in Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after acquiring an additional 169,913 shares during the period. Finally, Montanova Capital LLC acquired a new position in shares of Veradermics in the second quarter valued at approximately $512,533,000.

Analysts Set New Price Targets

MANE has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Lifesci Capital initiated coverage on Veradermics in a research note on Tuesday, June 16th. They set an “outperform” rating and a $135.00 target price for the company. UBS Group set a $170.00 price target on Veradermics in a report on Wednesday, July 15th. B. Riley Financial initiated coverage on shares of Veradermics in a research note on Wednesday, July 15th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

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.