Montanova Capital LLC Makes New Investment in Veradermics, Incorporated $MANE

Montanova Capital LLC purchased a new position in Veradermics, Incorporated (NYSE:MANE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,168,970 shares of the company’s stock, valued at approximately $512,533,000. Veradermics comprises 8.5% of Montanova Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Montanova Capital LLC owned 0.10% of Veradermics as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Bamco Inc. NY increased its holdings in Veradermics by 284.8% in the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares in the last quarter.

Insider Activity

In other Veradermics news, insider Timothy August Durso sold 43,500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the sale, the insider owned 78,142 shares in the company, valued at approximately $8,425,270.44. This trade represents a 35.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of Veradermics stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the transaction, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This represents a 34.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 961,000 shares of company stock valued at $103,120,220.

Analysts Set New Price Targets

MANE has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group set a $170.00 price objective on shares of Veradermics in a research report on Wednesday, July 15th. Citigroup raised their target price on shares of Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Needham & Company LLC lifted their target price on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Veradermics in a report on Friday, August 21st. Seven equities research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Veradermics Price Performance

NYSE:MANE opened at $98.77 on Tuesday. Veradermics, Incorporated has a one year low of $32.00 and a one year high of $131.24. The business has a fifty day moving average of $111.86. The stock has a market cap of $4.13 billion and a price-to-earnings ratio of -51.98.

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

Veradermics Profile

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.