Wellington Management Group LLP Sells 24,271 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Wellington Management Group LLP decreased its position in Verve Therapeutics, Inc. (NASDAQ:VERV) by 6.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 347,029 shares of the company’s stock after selling 24,271 shares during the period. Wellington Management Group LLP owned 0.41% of Verve Therapeutics worth $1,680,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after acquiring an additional 903,809 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Verve Therapeutics by 14.7% during the third quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock valued at $636,000 after purchasing an additional 16,842 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Verve Therapeutics during the third quarter valued at approximately $83,000. Ikarian Capital LLC bought a new position in Verve Therapeutics in the third quarter worth approximately $823,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Verve Therapeutics by 72.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company’s stock worth $7,547,000 after buying an additional 653,578 shares during the period. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Verve Therapeutics Price Performance

Shares of VERV stock opened at $5.09 on Thursday. The business has a fifty day moving average of $5.75 and a 200 day moving average of $5.66. Verve Therapeutics, Inc. has a 1 year low of $4.30 and a 1 year high of $19.34. The firm has a market capitalization of $430.94 million, a price-to-earnings ratio of -2.07 and a beta of 1.71.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, HC Wainwright decreased their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th.

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.