Algert Global LLC Increases Stake in Verve Therapeutics, Inc. (NASDAQ:VERV)

Algert Global LLC lifted its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 63.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,216 shares of the company’s stock after buying an additional 86,720 shares during the quarter. Algert Global LLC owned about 0.26% of Verve Therapeutics worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of VERV. Nisa Investment Advisors LLC increased its position in shares of Verve Therapeutics by 908.4% during the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after buying an additional 6,949 shares during the period. Creative Planning purchased a new position in shares of Verve Therapeutics during the third quarter valued at about $50,000. PFG Investments LLC purchased a new position in shares of Verve Therapeutics during the third quarter valued at about $53,000. Daiwa Securities Group Inc. increased its position in shares of Verve Therapeutics by 89.8% during the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after buying an additional 5,723 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its position in shares of Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after buying an additional 1,778 shares during the period. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV opened at $5.78 on Friday. The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $5.60. The company has a market cap of $489.36 million, a PE ratio of -2.35 and a beta of 1.75. Verve Therapeutics, Inc. has a 52-week low of $4.30 and a 52-week high of $19.34.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same quarter in the prior year, the firm posted ($0.72) earnings per share. The business’s revenue was up 120.2% on a year-over-year basis. On average, analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VERV. Royal Bank of Canada dropped their price objective 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. HC Wainwright dropped their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group boosted their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

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.