Veradermics (NYSE:MANE) Stock: Insider Longitude Capital Partners V, Sells 500,000 Shares

Veradermics, Incorporated (NYSE:MANE) major shareholder Longitude Capital Partners V, sold 500,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $150.38, for a total value of $75,190,000.00. Following the completion of the sale, the insider owned 1,803,474 shares in the company, valued at $271,206,420.12. This trade represents a 21.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Veradermics Stock Down 4.5%

Veradermics stock traded down $6.11 during mid-day trading on Friday, hitting $129.18. 937,902 shares of the company were exchanged, compared to its average volume of 651,896. The company has a market capitalization of $5.45 billion and a PE ratio of -67.99. The business has a fifty day moving average of $121.56 and a 200 day moving average of $98.22. Veradermics, Incorporated has a 1-year low of $32.00 and a 1-year high of $156.63.

Veradermics (NYSE:MANE) last issued its earnings results on Tuesday, November 10th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.09. Research analysts expect that Veradermics, Incorporated will post -2.87 earnings per share for the current year.

Hedge Funds Weigh In On Veradermics

Institutional investors and hedge funds have recently bought and sold shares of the business. Montanova Capital LLC bought a new stake in shares of Veradermics during the second quarter worth $512,533,000. Wellington Management Group LLP acquired a new stake in shares of Veradermics in the second quarter valued at $8,425,000. Seven Fleet Capital Management LP acquired a new stake in shares of Veradermics in the second quarter valued at $9,835,000. Profund Advisors LLC raised its holdings in shares of Veradermics by 399.8% in the third quarter. Profund Advisors LLC now owns 15,843 shares of the company’s stock valued at $1,921,000 after buying an additional 12,673 shares during the last quarter. Finally, Bamco Inc. NY raised its holdings in shares of Veradermics by 284.8% in the second 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 during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MANE shares. Leerink Partners increased their target price on shares of Veradermics from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group set a $204.00 price target on shares of Veradermics in a research report on Thursday, October 22nd. Citigroup upped their price objective on shares of Veradermics from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley Financial raised their price objective on shares of Veradermics from $170.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Finally, Needham & Company LLC lifted their target price on shares of Veradermics from $164.00 to $172.00 and gave the company a “buy” rating in a research note on Monday, October 19th. Seven 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, Veradermics presently has an average rating of “Moderate Buy” and a consensus price target of $174.57.

Veradermics Company Profile

Veradermics is a clinical-stage biopharmaceutical company focused on developing treatments for hair loss. Its lead candidate, VDPHL01, is an investigational oral formulation of minoxidil being studied for androgenetic alopecia, commonly known as male- or female-pattern hair loss. The company has described the treatment as designed for once-daily use. VDPHL01 remains under clinical investigation and is not an approved treatment. Veradermics is led by founder and Chief Executive Officer Reid Waldman, a physician specializing in dermatology.