Vestmark Advisory Solutions Inc. acquired a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 113,324 shares of the company’s stock, valued at approximately $1,580,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its position in shares of Verve Therapeutics by 35.1% during the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock worth $97,930,000 after purchasing an additional 1,824,549 shares during the last quarter. Federated Hermes Inc. increased its position in Verve Therapeutics by 57.2% during the fourth quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock worth $55,486,000 after buying an additional 1,448,003 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Verve Therapeutics by 18.1% in the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock worth $64,085,000 after acquiring an additional 741,753 shares during the last quarter. FMR LLC lifted its position in shares of Verve Therapeutics by 8.8% in the third quarter. FMR LLC now owns 6,577,562 shares of the company’s stock valued at $87,218,000 after acquiring an additional 531,182 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Verve Therapeutics by 11.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company’s stock valued at $33,423,000 after purchasing an additional 250,361 shares during the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
Wall Street Analyst Weigh In
VERV has been the subject of several research analyst reports. HC Wainwright assumed coverage on shares of Verve Therapeutics in a research report on Monday, April 8th. They set a “buy” rating and a $15.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Verve Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $33.00.
Verve Therapeutics Stock Performance
Shares of NASDAQ:VERV traded up $0.03 during midday trading on Monday, hitting $6.44. 100,889 shares of the company’s stock traded hands, compared to its average volume of 1,210,534. The firm’s fifty day moving average price is $10.94 and its two-hundred day moving average price is $11.97. Verve Therapeutics, Inc. has a twelve month low of $5.84 and a twelve month high of $21.42.
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.14. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. The business had revenue of $5.14 million for the quarter, compared to analyst estimates of $3.95 million. As a group, equities research analysts expect that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current fiscal 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.
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