29,954 Shares in Verve Therapeutics, Inc. (NASDAQ:VERV) Purchased by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,954 shares of the company’s stock, valued at approximately $145,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics in the fourth quarter worth about $29,000. Nisa Investment Advisors LLC raised its stake in Verve Therapeutics by 908.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after purchasing an additional 6,949 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after purchasing an additional 5,723 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its position in shares of Verve Therapeutics by 13.5% in the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after buying an additional 1,778 shares during the period. Finally, Arizona State Retirement System grew its stake in 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 acquiring an additional 2,019 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Verve Therapeutics Trading Up 4.4 %

Verve Therapeutics stock opened at $5.97 on Friday. Verve Therapeutics, Inc. has a 1 year low of $4.30 and a 1 year high of $20.12. The company’s 50-day moving average is $5.34 and its two-hundred day moving average is $5.78. The company has a market cap of $505.18 million, a PE ratio of -2.31 and a beta of 1.80.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VERV shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Verve Therapeutics 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 for the company in a report on Friday, August 9th. Finally, Canaccord Genuity Group cut their target price on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

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.