Barclays PLC Grows Stock Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Barclays PLC boosted its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 139.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 222,919 shares of the company’s stock after purchasing an additional 129,944 shares during the quarter. Barclays PLC’s holdings in Verve Therapeutics were worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VERV. Creative Planning acquired a new stake in shares of Verve Therapeutics in the 3rd quarter worth approximately $50,000. PFG Investments LLC acquired a new position in Verve Therapeutics during the third quarter worth $53,000. Erste Asset Management GmbH purchased a new stake in Verve Therapeutics during the third quarter worth $56,000. Daiwa Securities Group Inc. increased its position in shares of Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after buying an additional 5,723 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Verve Therapeutics during the 3rd quarter worth $74,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. 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 report on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, HC Wainwright cut their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th.

Verve Therapeutics Trading Down 4.5 %

Shares of VERV stock opened at $5.25 on Wednesday. Verve Therapeutics, Inc. has a twelve month low of $4.30 and a twelve month high of $19.34. The company has a market capitalization of $444.49 million, a price-to-earnings ratio of -2.13 and a beta of 1.68. The firm has a 50-day moving average price of $5.83 and a 200 day moving average price of $5.74.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data 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 807.65% and a negative return on equity of 35.23%. The business had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. During the same quarter in the previous year, the business posted ($0.72) earnings per share. The company’s revenue was up 120.2% on a year-over-year basis. As a group, research analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

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.