Fmr LLC Grows Stock Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Fmr LLC boosted its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 0.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,418,993 shares of the company’s stock after acquiring an additional 3,873 shares during the period. Fmr LLC’s holdings in Verve Therapeutics were worth $6,868,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Novo Holdings A S increased its stake in Verve Therapeutics by 20.0% in the second quarter. Novo Holdings A S now owns 2,400,000 shares of the company’s stock valued at $11,712,000 after purchasing an additional 400,000 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Verve Therapeutics by 245.5% in the second quarter. Cubist Systematic Strategies LLC now owns 395,699 shares of the company’s stock worth $1,931,000 after purchasing an additional 281,173 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Verve Therapeutics by 138.1% in the second quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock worth $2,316,000 after purchasing an additional 275,173 shares during the period. Los Angeles Capital Management LLC bought a new position in Verve Therapeutics in the second quarter worth about $1,183,000. Finally, Algert Global LLC bought a new stake in Verve Therapeutics in the second quarter valued at $671,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Verve Therapeutics Stock Down 1.1 %

NASDAQ:VERV opened at $6.23 on Friday. Verve Therapeutics, Inc. has a 12 month low of $4.30 and a 12 month high of $19.34. The company’s 50 day moving average is $5.69 and its 200-day moving average is $5.65. The firm has a market cap of $527.46 million, a price-to-earnings ratio of -2.53 and a beta of 1.71.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly 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 company had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. During the same period last year, the business posted ($0.72) EPS. The business’s quarterly revenue was up 120.2% on a year-over-year basis. Research analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on VERV shares. Royal Bank of Canada lowered their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. HC Wainwright lowered their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group upped their price target 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.