GAMMA Investing LLC Has $7.41 Million Stock Position in Verona Pharma plc (NASDAQ:VRNA)

GAMMA Investing LLC boosted its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 7,135.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,631 shares of the company's stock after buying an additional 115,019 shares during the quarter. GAMMA Investing LLC owned 0.14% of Verona Pharma worth $7,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VRNA. Choreo LLC acquired a new stake in Verona Pharma in the 4th quarter valued at about $230,000. Legato Capital Management LLC raised its position in shares of Verona Pharma by 132.9% during the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock worth $1,154,000 after purchasing an additional 14,183 shares during the period. Values First Advisors Inc. lifted its holdings in shares of Verona Pharma by 36.9% during the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock valued at $1,092,000 after purchasing an additional 6,331 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Verona Pharma in the 4th quarter valued at $285,000. Finally, Jacobson & Schmitt Advisors LLC acquired a new position in shares of Verona Pharma in the 4th quarter valued at $2,032,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRNA has been the subject of a number of analyst reports. HC Wainwright upped their price objective on shares of Verona Pharma from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Canaccord Genuity Group upped their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. Finally, Jefferies Financial Group raised their price objective on Verona Pharma from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $87.44.

Verona Pharma Stock Up 4.9%

Shares of VRNA stock traded up $4.23 on Wednesday, hitting $91.01. The company's stock had a trading volume of 1,099,373 shares, compared to its average volume of 1,324,649. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -47.41 and a beta of 0.21. Verona Pharma plc has a fifty-two week low of $12.20 and a fifty-two week high of $91.86. The firm's fifty day moving average price is $68.83 and its 200-day moving average price is $59.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. Research analysts anticipate that Verona Pharma plc will post -1.95 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark W. Hahn sold 32,432 shares of Verona Pharma stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $9.53, for a total value of $309,076.96. Following the transaction, the chief financial officer now owns 13,046,560 shares in the company, valued at $124,333,716.80. This trade represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Zaccardelli sold 208,696 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $9.33, for a total transaction of $1,947,133.68. Following the sale, the chief executive officer now owns 13,590,168 shares of the company's stock, valued at $126,796,267.44. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,085,800 shares of company stock worth $10,014,481. 4.80% of the stock is currently owned by insiders.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.