28,714 Shares in Verve Therapeutics, Inc. (NASDAQ:VERV) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,714 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock worth $38,000 after purchasing an additional 6,949 shares during the period. Creative Planning purchased a new stake in shares of Verve Therapeutics in the 3rd quarter worth approximately $50,000. PFG Investments LLC bought a new position in Verve Therapeutics during the 3rd quarter valued at approximately $53,000. Daiwa Securities Group Inc. boosted its holdings in Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after acquiring an additional 5,723 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of Verve Therapeutics by 13.5% in the second 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. 97.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VERV. Canaccord Genuity Group lifted their price target on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright decreased their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV opened at $5.41 on Tuesday. The firm has a market cap of $458.01 million, a price-to-earnings ratio of -2.20 and a beta of 1.71. The business has a 50-day simple moving average of $5.72 and a two-hundred day simple moving average of $5.66. Verve Therapeutics, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $19.34.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.11. The firm had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The business’s revenue for the quarter was up 120.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.72) earnings per share. As a group, research analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

About Verve Therapeutics

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.