Sphera Funds Management LTD. Lowers Holdings in Verrica Pharmaceuticals Inc (VRCA)
Sphera Funds Management LTD. lowered its holdings in shares of Verrica Pharmaceuticals Inc (NASDAQ:VRCA) by 7.0% in the 3rd quarter, Holdings Channel reports. The firm owned 117,000 shares of the company’s stock after selling 8,800 shares during the quarter. Sphera Funds Management LTD.’s holdings in Verrica Pharmaceuticals were worth $1,901,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in VRCA. Bank of New York Mellon Corp bought a new position in Verrica Pharmaceuticals during the third quarter valued at $195,000. Laurion Capital Management LP bought a new position in Verrica Pharmaceuticals during the second quarter valued at $395,000. Asymmetry Capital Management L.P. bought a new position in Verrica Pharmaceuticals during the second quarter valued at $1,184,000. Gilder Gagnon Howe & Co. LLC lifted its position in Verrica Pharmaceuticals by 12.4% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 167,574 shares of the company’s stock valued at $2,723,000 after purchasing an additional 18,530 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new position in Verrica Pharmaceuticals during the second quarter valued at $2,905,000. Institutional investors and hedge funds own 32.07% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Verrica Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th.
Verrica Pharmaceuticals (NASDAQ:VRCA) last released its earnings results on Wednesday, November 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.03). As a group, research analysts forecast that Verrica Pharmaceuticals Inc will post -1.17 EPS for the current fiscal year.
In other news, Director Paul B. Manning bought 70,200 shares of the stock in a transaction dated Tuesday, November 13th. The stock was purchased at an average price of $14.15 per share, for a total transaction of $993,330.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Linda Palczuk bought 2,500 shares of the stock in a transaction dated Monday, September 17th. The stock was purchased at an average price of $16.52 per share, with a total value of $41,300.00. The disclosure for this purchase can be found here.
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About Verrica Pharmaceuticals
Verrica Pharmaceuticals Inc develops and commercializes dermatological treatments in the United States. The company is advancing its lead product VP-102, a proprietary topical therapy, in various common skin indications, including Molluscum contagiosum and Verruca Vulgaris. It is also developing 2 Phase 3 trials in molluscum contagiosum under NCT03377803 and NCT03377790.
Further Reading: Analyst Ratings
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