Verve Therapeutics, Inc. (NASDAQ:VERV) Shares Acquired by Novo Holdings A S

Novo Holdings A S increased its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 20.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,400,000 shares of the company’s stock after acquiring an additional 400,000 shares during the period. Novo Holdings A S owned approximately 2.86% of Verve Therapeutics worth $11,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC purchased a new position in Verve Therapeutics during the second quarter worth approximately $671,000. Cim Investment Management Inc. purchased a new position in shares of Verve Therapeutics during the 2nd quarter valued at approximately $134,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Verve Therapeutics by 825.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 132,998 shares of the company’s stock valued at $649,000 after buying an additional 118,628 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 acquiring an additional 4,759 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in Verve Therapeutics by 301.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 47,361 shares of the company’s stock worth $231,000 after acquiring an additional 35,562 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. 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. Canaccord Genuity Group decreased their price target on shares of Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their price objective 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $26.00.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $4.98 on Monday. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $20.12. The stock has a market cap of $418.15 million, a P/E ratio of -1.74 and a beta of 1.83. The stock’s 50 day simple moving average is $5.72 and its 200-day simple moving average is $6.65.

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