Veradermics (NYSE:MANE) Director Montanova Capital, Llc Sells 750,000 Shares of Stock

Veradermics, Incorporated (NYSE:MANE) Director Montanova Capital, Llc sold 750,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total transaction of $80,437,500.00. Following the sale, the director directly owned 461,033 shares in the company, valued at $49,445,789.25. This trade represents a 61.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Veradermics Stock Performance

MANE opened at $103.33 on Friday. Veradermics, Incorporated has a 12-month low of $32.00 and a 12-month high of $131.24. The company has a 50 day simple moving average of $111.22. The firm has a market capitalization of $4.32 billion and a PE ratio of -54.38.

Veradermics (NYSE:MANE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). As a group, analysts forecast that Veradermics, Incorporated will post -2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Citigroup raised their price objective on Veradermics from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings began coverage on Veradermics in a research report on Tuesday, May 26th. They set a “sell (d+)” rating for the company. B. Riley Financial assumed coverage on shares of Veradermics in a research note on Wednesday, July 15th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Wall Street Zen upgraded Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Seven 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. According to MarketBeat, Veradermics presently has an average rating of “Moderate Buy” and an average target price of $153.00.

Hedge Funds Weigh In On Veradermics

A number of large investors have recently added to or reduced their stakes in MANE. Wellington Management Group LLP bought a new position in shares of Veradermics during the second quarter valued at approximately $8,425,000. Bamco Inc. NY increased its position in Veradermics by 284.8% during the 2nd quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after buying an additional 169,913 shares in the last quarter. Finally, Montanova Capital LLC purchased a new position in shares of Veradermics in the 2nd quarter worth about $512,533,000.

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.