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

Veradermics, Incorporated (NYSE:MANE) Director Montanova Capital, Llc sold 750,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were 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 in the company, valued at $49,445,789.25. This trade represents a 61.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Veradermics Stock Performance

Shares of MANE stock traded down $1.99 during mid-day trading on Friday, reaching $103.33. The stock had a trading volume of 393,617 shares, compared to its average volume of 600,834. The firm has a market capitalization of $4.32 billion and a P/E ratio of -54.38. Veradermics, Incorporated has a 12-month low of $32.00 and a 12-month high of $131.24. The firm’s 50-day moving average is $111.07.

Veradermics (NYSE:MANE) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). On average, equities analysts forecast that Veradermics, Incorporated will post -2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MANE shares. Wall Street Zen upgraded shares of Veradermics from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Lifesci Capital started coverage on Veradermics in a report on Tuesday, June 16th. They set an “outperform” rating and a $135.00 target price on the stock. Citigroup raised their price target on Veradermics from $135.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. B. Riley Financial started coverage on Veradermics in a research note on Wednesday, July 15th. They set a “buy” rating and a $170.00 price objective on the stock. Finally, 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 note on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Institutional Investors Weigh In On Veradermics

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in shares of Veradermics in the second quarter valued at $8,425,000. Bamco Inc. NY lifted its position in Veradermics by 284.8% during the second quarter. Bamco Inc. NY now owns 229,581 shares of the company’s stock worth $28,225,000 after buying an additional 169,913 shares during the period. Finally, Montanova Capital LLC acquired a new stake in 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.