Harbor Capital Advisors Inc. Acquires 23,565 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Harbor Capital Advisors Inc. lifted its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 78.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 53,524 shares of the company’s stock after purchasing an additional 23,565 shares during the period. Harbor Capital Advisors Inc. owned 0.06% of Verve Therapeutics worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornercap Investment Counsel Inc. grew its holdings in Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after acquiring an additional 1,778 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Verve Therapeutics by 14.1% in the second quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock valued at $80,000 after purchasing an additional 2,019 shares in the last quarter. Accredited Investors Inc. raised its position in Verve Therapeutics by 16.3% in the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock worth $85,000 after purchasing an additional 2,455 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Verve Therapeutics by 31.0% during the 1st quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock worth $235,000 after buying an additional 4,184 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Verve Therapeutics by 20.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,105 shares of the company’s stock valued at $137,000 after buying an additional 4,759 shares during the period. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VERV shares. Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Canaccord Genuity Group raised their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright dropped their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verve Therapeutics currently has a consensus rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Trading Down 0.8 %

NASDAQ:VERV opened at $6.36 on Friday. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $19.34. The firm has a market capitalization of $538.22 million, a price-to-earnings ratio of -2.61 and a beta of 1.75. The business’s 50-day moving average price is $5.48 and its two-hundred day moving average price is $5.69.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The business had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same period last year, the company posted ($0.72) EPS. Verve Therapeutics’s revenue for the quarter was up 120.2% on a year-over-year basis. Sell-side analysts predict that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current year.

Verve Therapeutics Company Profile

Verve Therapeutics, Inc, a clinical stage genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases in the United States. The company's lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver; and VERVE-102, a product candidate that targets the PCSK9 gene for the treatment of HeFH.