Key Points
- Montanova Capital sold 750,000 Veradermics shares at an average price of $107.25, generating approximately $80.4 million. Its remaining stake fell 61.93% to 461,033 shares.
- Veradermics reported quarterly EPS of -$0.58, in line with analyst estimates, while analysts expect a full-year EPS loss of $2.74. The stock opened at $103.33, with a market capitalization of roughly $4.32 billion.
- Analyst sentiment remains broadly positive, with seven Buy ratings, one Hold and one Sell; the stock has a Moderate Buy consensus and a $153 average price target.
Veradermics, Incorporated (NYSE:MANE - Get Free Report) Director Montanova Capital, Llc sold 750,000 shares of Veradermics stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the transaction, the director owned 461,033 shares in the company, valued at $49,445,789.25. This represents a 61.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Veradermics Stock Performance
Shares of NYSE MANE opened at $103.33 on Friday. Veradermics, Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $131.24. The stock has a market capitalization of $4.32 billion and a P/E ratio of -54.38. The business has a 50 day simple moving average of $111.22.
Veradermics (NYSE:MANE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.58). Research analysts expect that Veradermics, Incorporated will post -2.74 EPS for the current year.
Institutional Trading of Veradermics
Large investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in Veradermics in the 2nd quarter valued at $8,425,000. Bamco Inc. NY boosted its stake 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 purchasing an additional 169,913 shares during the last quarter. Finally, Montanova Capital LLC purchased a new stake in shares of Veradermics during the second quarter worth $512,533,000.
Wall Street Analyst Weigh In
A number of analysts have recently commented on MANE shares. Weiss Ratings started coverage on Veradermics in a research report on Tuesday, May 26th. They issued a "sell (d+)" rating for the company. Needham & Company LLC boosted their price target on shares of Veradermics from $136.00 to $164.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Jefferies Financial Group increased their price objective on shares of Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. UBS Group set a $170.00 target price on shares of Veradermics in a research note on Wednesday, July 15th. Finally, Lifesci Capital initiated coverage on shares of Veradermics in a research report on Tuesday, June 16th. They set an "outperform" rating and a $135.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.00.
Read Our Latest Stock Report on MANE
Veradermics Company Profile
(
Get Free Report)
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.
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