American Century Companies Inc. Increases Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

American Century Companies Inc. raised its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 21.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,500 shares of the company’s stock after purchasing an additional 16,525 shares during the period. American Century Companies Inc. owned approximately 0.11% of Verve Therapeutics worth $451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VERV. Nomura Holdings Inc. boosted its stake in shares of Verve Therapeutics by 5.0% in the 4th quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after buying an additional 900 shares during the last quarter. Arizona State Retirement System increased its position in shares of Verve Therapeutics by 14.1% during the 2nd quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock valued at $80,000 after purchasing an additional 2,019 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics in the fourth quarter worth approximately $30,000. Finally, Accredited Investors Inc. grew its position in Verve Therapeutics by 16.3% during the second quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after buying an additional 2,455 shares during the period. Institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV opened at $4.72 on Friday. Verve Therapeutics, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $20.12. The company has a market cap of $396.31 million, a price-to-earnings ratio of -1.64 and a beta of 1.80. The business’s 50 day moving average price is $5.57 and its 200-day moving average price is $6.51.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The firm had revenue of $6.70 million during the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the previous year, the business earned ($0.87) earnings per share. Verve Therapeutics’s quarterly revenue was up 219.0% on a year-over-year basis. Sell-side analysts predict that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canaccord Genuity Group decreased their target price on shares of Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Verve Therapeutics in a report on Monday, August 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Verve Therapeutics currently has an average rating of “Buy” and a consensus target price of $26.00.

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.