Los Angeles Capital Management LLC Acquires Shares of 242,468 Verve Therapeutics, Inc. (NASDAQ:VERV)

Los Angeles Capital Management LLC acquired a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV) in the second quarter, HoldingsChannel.com reports. The firm acquired 242,468 shares of the company’s stock, valued at approximately $1,183,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VERV. Swiss National Bank lifted its stake in Verve Therapeutics by 13.9% in the fourth quarter. Swiss National Bank now owns 108,500 shares of the company’s stock valued at $1,512,000 after buying an additional 13,200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Verve Therapeutics by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,670 shares of the company’s stock valued at $5,153,000 after buying an additional 6,626 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Verve Therapeutics by 20.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,884 shares of the company’s stock worth $258,000 after purchasing an additional 3,405 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Verve Therapeutics by 11.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,397,604 shares of the company’s stock worth $33,327,000 after purchasing an additional 250,361 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Verve Therapeutics during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Price Performance

Shares of VERV stock opened at $5.87 on Thursday. The business’s fifty day moving average price is $6.02 and its 200 day moving average price is $7.58. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $20.12. The firm has a market capitalization of $492.87 million, a PE ratio of -2.05 and a beta of 1.84.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $6.70 million for the quarter, compared to analyst estimates of $2.40 million. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. Verve Therapeutics’s revenue was up 219.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.87) earnings per share. Equities research analysts expect that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on VERV. Royal Bank of Canada cut their price target on Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Verve Therapeutics in a report on Monday, August 12th. Finally, Canaccord Genuity Group dropped their price objective on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Verve Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $25.20.

Verve Therapeutics 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.