Verve Therapeutics, Inc. (NASDAQ:VERV) Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 58.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,914 shares of the company’s stock after selling 38,883 shares during the quarter. Profund Advisors LLC’s holdings in Verve Therapeutics were worth $136,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Verve Therapeutics by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after buying an additional 859,382 shares during the period. Renaissance Technologies LLC raised its position in Verve Therapeutics by 138.1% in the second quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock valued at $2,316,000 after purchasing an additional 275,173 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Verve Therapeutics during the second quarter worth about $1,183,000. Nikko Asset Management Americas Inc. boosted its position in shares of Verve Therapeutics by 8.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company’s stock worth $34,347,000 after buying an additional 194,594 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Verve Therapeutics by 8.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock valued at $34,424,000 after buying an additional 194,594 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Verve Therapeutics Stock Up 0.4 %

Shares of VERV opened at $4.98 on Monday. The firm has a market cap of $418.15 million, a price-to-earnings ratio of -1.74 and a beta of 1.83. The business’s 50 day moving average is $5.72 and its two-hundred day moving average is $6.65. Verve Therapeutics, Inc. has a 52-week low of $4.30 and a 52-week high of $20.12.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly 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. The firm had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $2.40 million. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The firm’s quarterly revenue was up 219.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.87) earnings per share. On average, equities analysts expect that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

VERV has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada reduced their target price on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Verve Therapeutics in a report on Monday, August 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.00.

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.