Bank of America Corp DE Decreases Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Bank of America Corp DE reduced its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,671 shares of the company's stock after selling 228,551 shares during the quarter. Bank of America Corp DE owned 0.65% of Verve Therapeutics worth $3,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its stake in shares of Verve Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company's stock valued at $101,000 after buying an additional 1,676 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock worth $627,000 after purchasing an additional 2,093 shares during the period. Arizona State Retirement System boosted its holdings in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company's stock worth $111,000 after purchasing an additional 2,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Verve Therapeutics by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company's stock worth $313,000 after purchasing an additional 2,742 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Verve Therapeutics by 5.7% during the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company's stock worth $322,000 after purchasing an additional 3,080 shares during the period. 97.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VERV has been the subject of a number of analyst reports. Canaccord Genuity Group increased their target price on shares of Verve Therapeutics from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright increased their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald upgraded shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Verve Therapeutics Price Performance

VERV traded up $0.35 on Monday, hitting $4.80. The company had a trading volume of 3,498,724 shares, compared to its average volume of 1,900,531. Verve Therapeutics, Inc. has a 52-week low of $2.86 and a 52-week high of $9.31. The stock has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $5.74. The firm has a market capitalization of $427.89 million, a P/E ratio of -1.95 and a beta of 1.82.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Equities research analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal 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.