Renaissance Technologies LLC Buys 275,173 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Renaissance Technologies LLC boosted its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 138.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 474,500 shares of the company’s stock after buying an additional 275,173 shares during the quarter. Renaissance Technologies LLC owned approximately 0.57% of Verve Therapeutics worth $2,316,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Verve Therapeutics by 15.7% in the first quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock valued at $84,080,000 after purchasing an additional 859,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Verve Therapeutics by 8.1% in the 1st 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 during the last quarter. Nikko Asset Management Americas Inc. increased its stake in Verve Therapeutics by 8.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company’s stock valued at $34,347,000 after buying an additional 194,594 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Verve Therapeutics by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,670 shares of the company’s stock worth $5,153,000 after buying an additional 6,626 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Verve Therapeutics by 10.0% in the fourth quarter. Rafferty Asset Management LLC now owns 351,904 shares of the company’s stock valued at $4,906,000 after acquiring an additional 32,104 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price target on Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a report on Monday, August 12th. Finally, Canaccord Genuity Group reduced their price target on shares of Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $26.00.

Verve Therapeutics Price Performance

NASDAQ:VERV opened at $4.79 on Wednesday. The company has a market capitalization of $405.33 million, a P/E ratio of -1.67 and a beta of 1.83. The business has a fifty day simple moving average of $5.61 and a two-hundred day simple moving average of $6.52. Verve Therapeutics, Inc. has a 1 year low of $4.30 and a 1 year high of $20.12.

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