Short Interest in Verona Pharma plc (NASDAQ:TARA) Grows By 7.8%

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Verona Pharma plc (NASDAQ:TARA) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 49,900 shares, an increase of 7.8% from the June 30th total of 46,300 shares. Based on an average trading volume of 25,100 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.2% of the company’s shares are sold short.

A number of equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Verona Pharma in a report on Wednesday. They set a “buy” rating and a $50.00 target price on the stock. Zacks Investment Research upgraded shares of Verona Pharma from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th.

Verona Pharma stock opened at $24.94 on Friday. Verona Pharma has a 52-week low of $8.80 and a 52-week high of $67.08. The business’s 50 day simple moving average is $28.93.

Verona Pharma (NASDAQ:TARA) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($1.81) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($1.40). Equities analysts predict that Verona Pharma will post -2.59 earnings per share for the current year.

In other news, major shareholder Randall Marshall sold 2,145 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $27.13, for a total value of $58,193.85. Following the transaction, the insider now directly owns 651,361 shares in the company, valued at approximately $17,671,423.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 17,304 shares of company stock worth $463,882. Company insiders own 45.70% of the company’s stock.

Several large investors have recently made changes to their positions in TARA. Ikarian Capital LLC purchased a new stake in shares of Verona Pharma in the 1st quarter valued at approximately $10,368,000. DRW Securities LLC purchased a new stake in shares of Verona Pharma in the 1st quarter valued at approximately $3,071,000. Perceptive Advisors LLC purchased a new stake in shares of Verona Pharma in the 1st quarter valued at approximately $184,000. Citigroup Inc. purchased a new stake in shares of Verona Pharma in the 1st quarter valued at approximately $43,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter valued at approximately $32,000. 67.70% of the stock is currently owned by institutional investors.

About Verona Pharma

ArTara Therapeutics, Inc develops rare diseases therapeutics for patients suffering from gastrointestinal, metabolic, circulatory, and neurological disorders. It offers IV Choline Chloride, a drug for the orphan disease intestinal failure associated liver disease (IFALD). The company was incorporated in 2017 and is headquartered in New York, New York.

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