Veradermics (NYSE:MANE) Insider Sells $4,690,170.00 in Stock

Veradermics, Incorporated (NYSE:MANE) insider Timothy August Durso sold 43,500 shares of Veradermics stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $107.82, for a total value of $4,690,170.00. Following the completion of the sale, the insider owned 78,142 shares in the company, valued at approximately $8,425,270.44. This represents a 35.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Performance

Shares of Veradermics stock traded up $3.11 during midday trading on Tuesday, reaching $111.33. 464,075 shares of the company’s stock traded hands, compared to its average volume of 798,875. The company’s 50 day moving average is $110.50. Veradermics, Incorporated has a 12 month low of $32.00 and a 12 month high of $131.24. The company has a market capitalization of $4.65 billion and a P/E ratio of -58.59.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Leerink Partners raised their price objective on shares of Veradermics from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Citigroup upped their target price on Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. UBS Group set a $170.00 target price on Veradermics in a research note on Wednesday, July 15th. Jefferies Financial Group lifted their price target on Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Lifesci Capital assumed coverage on Veradermics in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Veradermics stock. Bamco Inc. NY increased its holdings in shares of Veradermics, Incorporated (NYSE:MANE) by 284.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,581 shares of the company’s stock after acquiring an additional 169,913 shares during the period. Bamco Inc. NY owned approximately 0.55% of Veradermics worth $28,225,000 at the end of the most recent reporting period.

Veradermics Company 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.