Verrica Pharmaceuticals Inc (NASDAQ:VRCA) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 724,400 shares, a decrease of 6.7% from the May 30th total of 776,100 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average trading volume of 49,700 shares, the days-to-cover ratio is presently 14.6 days.
Shares of VRCA stock opened at $11.00 on Friday. Verrica Pharmaceuticals has a one year low of $6.44 and a one year high of $19.10. The business has a fifty day moving average price of $9.52.
Verrica Pharmaceuticals (NASDAQ:VRCA) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). On average, analysts predict that Verrica Pharmaceuticals will post -1.25 EPS for the current year.
Several brokerages recently commented on VRCA. Zacks Investment Research cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. HC Wainwright raised their target price on Dova Pharmaceuticals from $18.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th.
In other news, major shareholder Matt Davidson sold 33,521 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $11.63, for a total value of $389,849.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 117,098 shares of company stock valued at $1,211,252 over the last three months. 40.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new position in Verrica Pharmaceuticals during the fourth quarter worth $28,000. Bank of New York Mellon Corp raised its stake in Verrica Pharmaceuticals by 39.1% during the fourth quarter. Bank of New York Mellon Corp now owns 16,662 shares of the company’s stock worth $136,000 after acquiring an additional 4,681 shares in the last quarter. Northern Trust Corp raised its stake in Verrica Pharmaceuticals by 7.5% during the fourth quarter. Northern Trust Corp now owns 67,028 shares of the company’s stock worth $546,000 after acquiring an additional 4,689 shares in the last quarter. Asymmetry Capital Management L.P. raised its stake in Verrica Pharmaceuticals by 12.0% during the first quarter. Asymmetry Capital Management L.P. now owns 70,458 shares of the company’s stock worth $762,000 after acquiring an additional 7,576 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Verrica Pharmaceuticals by 31.7% during the fourth quarter. Geode Capital Management LLC now owns 36,906 shares of the company’s stock worth $300,000 after acquiring an additional 8,885 shares in the last quarter. 34.31% of the stock is owned by hedge funds and other institutional investors.
About Verrica Pharmaceuticals
Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.
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