Key Points
- Longitude Capital Partners V sold 500,000 Veradermics shares at an average $150.38, for $75.19 million, reducing its stake by 21.71% to 1,803,474 shares.
- Veradermics reported a quarterly loss of $0.50 per share, beating analyst estimates of a $0.59 loss. Shares later traded at $129.18, down $6.11 on the day.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $174.57; seven analysts rate the stock Buy, one Hold, and one Sell.
Veradermics, Incorporated (NYSE:MANE - Get Free Report) major shareholder Longitude Capital Partners V, sold 500,000 shares of the company's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $150.38, for a total transaction of $75,190,000.00. Following the completion of the transaction, the insider owned 1,803,474 shares of the company's stock, valued at approximately $271,206,420.12. This trade represents a 21.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Veradermics Stock Performance
Shares of NYSE:MANE traded down $6.11 during trading hours on Friday, hitting $129.18. The stock had a trading volume of 937,902 shares, compared to its average volume of 725,581. The stock's fifty day simple moving average is $122.19 and its 200 day simple moving average is $98.39. Veradermics, Incorporated has a 1-year low of $32.00 and a 1-year high of $156.63. The firm has a market capitalization of $5.45 billion and a price-to-earnings ratio of -67.99.
Veradermics (NYSE:MANE - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.59) by $0.09. As a group, research analysts anticipate that Veradermics, Incorporated will post -2.87 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Nvwm LLC lifted its holdings in Veradermics by 105.4% in the 3rd quarter. Nvwm LLC now owns 228 shares of the company's stock valued at $28,000 after acquiring an additional 117 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Veradermics by 8.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,905 shares of the company's stock valued at $231,000 after purchasing an additional 147 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Veradermics by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,712 shares of the company's stock worth $935,000 after purchasing an additional 352 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Veradermics by 233.2% in the 3rd quarter. Sterling Capital Management LLC now owns 633 shares of the company's stock worth $77,000 after purchasing an additional 443 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Veradermics by 22.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,491 shares of the company's stock worth $302,000 after purchasing an additional 449 shares in the last quarter.
Analysts Set New Price Targets
Several analysts recently commented on MANE shares. Cantor Fitzgerald restated an "overweight" rating on shares of Veradermics in a research report on Monday, October 19th. Wall Street Zen upgraded Veradermics from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings lowered Veradermics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday. UBS Group set a $204.00 price target on Veradermics in a research note on Thursday, October 22nd. Finally, B. Riley Financial raised their price target on Veradermics from $170.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.57.
Read Our Latest Stock Report on MANE
About Veradermics
(
Get Free Report)
Veradermics is a clinical-stage biopharmaceutical company focused on developing treatments for hair loss. Its lead candidate, VDPHL01, is an investigational oral formulation of minoxidil being studied for androgenetic alopecia, commonly known as male- or female-pattern hair loss. The company has described the treatment as designed for once-daily use. VDPHL01 remains under clinical investigation and is not an approved treatment. Veradermics is led by founder and Chief Executive Officer Reid Waldman, a physician specializing in dermatology.
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