Bank of New York Mellon Corp Grows Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Bank of New York Mellon Corp increased its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 220,502 shares of the company’s stock after acquiring an additional 5,262 shares during the quarter. Bank of New York Mellon Corp’s holdings in Verve Therapeutics were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in shares of Verve Therapeutics by 823,700.0% during the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after purchasing an additional 8,237 shares during the last quarter. Rhumbline Advisers raised its stake in Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after buying an additional 2,093 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Verve Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after buying an additional 1,676 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $70,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Verve Therapeutics by 465.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock valued at $241,000 after acquiring an additional 35,214 shares during the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

Verve Therapeutics Stock Performance

VERV stock opened at $5.55 on Monday. Verve Therapeutics, Inc. has a 1 year low of $4.31 and a 1 year high of $13.63. The stock has a market capitalization of $492.82 million, a price-to-earnings ratio of -2.26 and a beta of 1.77. The stock’s fifty day moving average is $6.96 and its two-hundred day moving average is $6.09.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. As a group, analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VERV shares. Royal Bank of Canada lowered their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. HC Wainwright boosted their price objective on shares of Verve Therapeutics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verve Therapeutics currently has an average rating of “Buy” and a consensus price target of $25.50.

Verve Therapeutics Company 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.