US Bancorp DE Has $91,000 Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

US Bancorp DE lifted its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 1,631.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,806 shares of the company’s stock after purchasing an additional 17,720 shares during the period. US Bancorp DE’s holdings in Verve Therapeutics were worth $91,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in Verve Therapeutics by 908.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after acquiring an additional 6,949 shares in the last quarter. Creative Planning acquired a new stake in shares of Verve Therapeutics in the third quarter valued at approximately $50,000. PFG Investments LLC bought a new position in Verve Therapeutics in the 3rd quarter worth approximately $53,000. Daiwa Securities Group Inc. raised its position in Verve Therapeutics by 89.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its holdings in Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after buying an additional 1,778 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VERV has been the subject of a number of recent research reports. HC Wainwright dropped their target price 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. Canaccord Genuity Group boosted their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $4.79 on Friday. The stock’s 50-day simple moving average is $5.45 and its 200 day simple moving average is $5.67. Verve Therapeutics, Inc. has a 52-week low of $4.30 and a 52-week high of $19.34. The company has a market cap of $405.52 million, a P/E ratio of -1.95 and a beta of 1.75.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.11. The company had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Verve Therapeutics’s revenue for the quarter was up 120.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.72) EPS. As a group, equities analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal 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.