Verve Therapeutics, Inc. (NASDAQ:VERV) Position Raised by Vestal Point Capital LP

Vestal Point Capital LP grew its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 22.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 645,000 shares of the company’s stock after purchasing an additional 120,000 shares during the quarter. Vestal Point Capital LP owned 0.76% of Verve Therapeutics worth $3,638,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Verve Therapeutics in the fourth quarter worth about $441,000. Wells Fargo & Company MN grew its position in Verve Therapeutics by 25.0% in the fourth quarter. Wells Fargo & Company MN now owns 45,422 shares of the company’s stock worth $256,000 after buying an additional 9,083 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Verve Therapeutics by 465.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock valued at $241,000 after buying an additional 35,214 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Verve Therapeutics by 5.7% in the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock valued at $322,000 after buying an additional 3,080 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Verve Therapeutics by 1.9% during the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after acquiring an additional 2,093 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VERV shares. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on shares of Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Guggenheim increased their price objective on Verve Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Finally, William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Price Performance

NASDAQ VERV opened at $4.63 on Monday. The firm has a market cap of $412.73 million, a P/E ratio of -1.88 and a beta of 1.82. The stock’s 50-day moving average is $4.78 and its two-hundred day moving average is $5.86. Verve Therapeutics, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm had revenue of $32.98 million during the quarter, compared to analysts’ expectations of $7.13 million. On average, equities analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

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.