Veradermics (NYSE:MANE) CEO Reid Alexander Waldman Sells 67,500 Shares

Veradermics, Incorporated (NYSE:MANE) CEO Reid Alexander Waldman sold 67,500 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.86, for a total value of $7,280,550.00. Following the completion of the sale, the chief executive officer directly owned 170,824 shares in the company, valued at $18,425,076.64. This represents a 28.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Performance

Shares of Veradermics stock traded up $3.11 on Tuesday, reaching $111.33. 464,075 shares of the company were exchanged, compared to its average volume of 798,875. Veradermics, Incorporated has a 1-year low of $32.00 and a 1-year high of $131.24. The company has a market capitalization of $4.65 billion and a P/E ratio of -58.59. The stock’s 50 day moving average is $110.50.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MANE. Jefferies Financial Group increased their price objective 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. Lifesci Capital initiated coverage on shares of Veradermics in a research report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 price objective for the company. Needham & Company LLC boosted their target price on shares of Veradermics from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Leerink Partners increased their target price on Veradermics from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings began coverage on Veradermics in a research note on Tuesday, May 26th. They issued a “sell (d+)” rating on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Hedge Funds Weigh In On Veradermics

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

About Veradermics

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.