Dimensional Fund Advisors LP Trims Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Dimensional Fund Advisors LP decreased its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,388 shares of the company’s stock after selling 55,003 shares during the quarter. Dimensional Fund Advisors LP owned 0.52% of Verve Therapeutics worth $2,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics during the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics during the fourth quarter worth about $30,000. PBCay One RSC Ltd purchased a new position in shares of Verve Therapeutics during the fourth quarter worth about $96,000. Nisa Investment Advisors LLC grew its holdings 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 worth $38,000 after purchasing an additional 6,949 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings 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 worth $59,000 after purchasing an additional 5,723 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VERV. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Verve Therapeutics in a report on Monday, August 12th. Canaccord Genuity Group cut their target price on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their target price on Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $26.00.

Verve Therapeutics Stock Up 1.5 %

Shares of Verve Therapeutics stock opened at $4.67 on Friday. The company has a market cap of $392.12 million, a PE ratio of -1.63 and a beta of 1.80. The business has a 50 day moving average of $5.24 and a 200 day moving average of $6.15. Verve Therapeutics, Inc. has a 52 week low of $4.30 and a 52 week high of $20.12.

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

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.