GSA Capital Partners LLP Buys 78,768 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Key Points

• GSA Capital Partners LLP increased its stake in Verve Therapeutics by 56.6%, acquiring an additional 78,768 shares for a total of 217,927 shares.
• Analysts have given mixed ratings for Verve Therapeutics, with a consensus rating of "Hold" and an average price target of $14.57, following recent downgrades from some firms.
• Verve Therapeutics reported quarterly earnings of ($0.35) per share, surpassing expectations, with revenue of $32.98 million, significantly above the forecast of $7.13 million.

GSA Capital Partners LLP raised its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 56.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,927 shares of the company's stock after purchasing an additional 78,768 shares during the quarter. GSA Capital Partners LLP owned 0.24% of Verve Therapeutics worth $996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VERV. BVF Inc. IL lifted its holdings in shares of Verve Therapeutics by 962.2% during the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company's stock worth $38,939,000 after acquiring an additional 6,254,050 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Verve Therapeutics during the fourth quarter valued at about $7,863,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Verve Therapeutics by 57.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company's stock worth $21,372,000 after purchasing an additional 1,382,176 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Verve Therapeutics in the 4th quarter worth about $1,643,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Verve Therapeutics by 18.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company's stock valued at $10,423,000 after buying an additional 288,678 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $13.50 target price (down previously from $20.00) on shares of Verve Therapeutics in a research note on Friday, June 27th. Wall Street Zen raised shares of Verve Therapeutics to a "hold" rating in a report on Saturday, July 26th. Jefferies Financial Group cut shares of Verve Therapeutics from a "buy" rating to a "hold" rating and decreased their target price for the stock from $28.00 to $11.00 in a research report on Wednesday, June 18th. Guggenheim upped their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group downgraded Verve Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $39.00 to $13.00 in a report on Tuesday, June 17th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.57.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $11.13 on Friday. The company's fifty day simple moving average is $9.16 and its two-hundred day simple moving average is $6.96. Verve Therapeutics, Inc. has a 12-month low of $2.86 and a 12-month high of $11.40. The firm has a market cap of $992.13 million, a PE ratio of -5.27 and a beta of 2.23.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. The company had revenue of $32.98 million for the quarter, compared to analysts' expectations of $7.13 million. As a group, sell-side analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal 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.

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