SteelPeak Wealth LLC Sells 25,998 Shares of Verrica Pharmaceuticals Inc. (NASDAQ:VRCA)

SteelPeak Wealth LLC cut its position in Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) by 25.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 76,000 shares of the company’s stock after selling 25,998 shares during the period. SteelPeak Wealth LLC’s holdings in Verrica Pharmaceuticals were worth $53,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VRCA. Renaissance Technologies LLC acquired a new position in shares of Verrica Pharmaceuticals during the 2nd quarter worth about $332,000. Verition Fund Management LLC acquired a new position in Verrica Pharmaceuticals during the third quarter worth approximately $89,000. State Street Corp raised its stake in Verrica Pharmaceuticals by 13.5% in the third quarter. State Street Corp now owns 512,821 shares of the company’s stock valued at $744,000 after buying an additional 61,041 shares during the period. Jane Street Group LLC lifted its position in shares of Verrica Pharmaceuticals by 106.5% in the third quarter. Jane Street Group LLC now owns 69,872 shares of the company’s stock valued at $101,000 after buying an additional 36,028 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Verrica Pharmaceuticals during the 3rd quarter worth approximately $335,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VRCA has been the topic of a number of research analyst reports. Royal Bank of Canada cut Verrica Pharmaceuticals from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $11.00 to $2.00 in a research note on Tuesday, November 5th. TD Cowen cut their target price on shares of Verrica Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Needham & Company LLC reiterated a “hold” rating on shares of Verrica Pharmaceuticals in a research note on Friday, December 20th. Finally, HC Wainwright downgraded shares of Verrica Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Verrica Pharmaceuticals has an average rating of “Hold” and a consensus target price of $9.50.

Verrica Pharmaceuticals Stock Performance

VRCA stock opened at $0.65 on Friday. Verrica Pharmaceuticals Inc. has a 52 week low of $0.61 and a 52 week high of $11.41. The company’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $2.08. The company has a market capitalization of $29.53 million, a PE ratio of -0.35 and a beta of 1.49.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.12). The business had revenue of ($1.78) million for the quarter, compared to the consensus estimate of $7.53 million. Verrica Pharmaceuticals had a negative return on equity of 591.84% and a negative net margin of 625.06%. On average, analysts forecast that Verrica Pharmaceuticals Inc. will post -1.46 EPS for the current year.

Verrica Pharmaceuticals Profile

Verrica Pharmaceuticals Inc, a clinical-stage dermatology therapeutics company, develops medications for the treatment of skin diseases in the United States. Its product pipeline comprises YCANTH (VP-102), which is in phase III clinical trial for the treatment of common warts; and has completed phase II clinical trial for the treatment of external genital warts.