Wellington Management Group LLP Acquires Shares of 68,531 Veradermics, Incorporated $MANE

Wellington Management Group LLP acquired a new stake in shares of Veradermics, Incorporated (NYSE:MANE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 68,531 shares of the company’s stock, valued at approximately $8,425,000.

Separately, Bamco Inc. NY grew its stake in Veradermics by 284.8% during the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock valued at $28,225,000 after acquiring an additional 169,913 shares in the last quarter.

Veradermics Stock Up 5.6%

Veradermics stock opened at $103.98 on Wednesday. The company’s 50-day moving average price is $109.45 and its 200-day moving average price is $90.71. The company has a market cap of $4.34 billion and a PE ratio of -54.73. Veradermics, Incorporated has a twelve month low of $32.00 and a twelve month high of $131.24.

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

Insider Buying and Selling

In other news, Director Montanova Capital, Llc sold 750,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $107.25, for a total value of $80,437,500.00. Following the completion of the sale, the director directly owned 461,033 shares of the company’s stock, valued at $49,445,789.25. This trade represents a 61.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Reid Alexander Waldman sold 67,500 shares of Veradermics stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $107.86, for a total value of $7,280,550.00. Following the completion of the transaction, the chief executive officer owned 170,824 shares of the company’s stock, valued at approximately $18,425,076.64. This trade represents a 28.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 961,000 shares of company stock valued at $103,120,220.

Wall Street Analyst Weigh In

Several analysts have commented on MANE shares. Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Needham & Company LLC boosted their target price on Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Jefferies Financial Group increased their price target on Veradermics from $138.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. UBS Group set a $170.00 price objective on Veradermics in a research note on Wednesday, July 15th. Finally, Citigroup upped their price objective on Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

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.