Veradermics (NYSE:MANE) Insider Timothy August Durso Sells 43,500 Shares of Stock

Veradermics, Incorporated (NYSE:MANE) insider Timothy August Durso sold 43,500 shares of the business’s stock in a transaction dated 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 sale, the insider owned 78,142 shares of the company’s stock, valued at $8,425,270.44. The trade was a 35.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Performance

MANE opened at $111.33 on Wednesday. Veradermics, Incorporated has a 1 year low of $32.00 and a 1 year high of $131.24. The business’s 50 day simple moving average is $110.50. The firm has a market cap of $4.65 billion and a P/E ratio of -58.59.

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

Hedge Funds Weigh In On Veradermics

A hedge fund recently raised its position in Veradermics stock. Bamco Inc. NY grew its holdings in shares of Veradermics, Incorporated (NYSE:MANE) by 284.8% in the 2nd quarter, according to its most recent disclosure 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 about 0.55% of Veradermics worth $28,225,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MANE shares. Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. B. Riley Financial assumed coverage on Veradermics in a research report on Wednesday, July 15th. They issued a “buy” rating and a $170.00 price objective on the stock. Needham & Company LLC boosted their price objective on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Jefferies Financial Group upped their target price on Veradermics from $138.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Lifesci Capital began coverage on Veradermics in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $135.00 target price for the company. Seven 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $153.00.

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.