Millennium Management LLC Sells 1,105,050 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Millennium Management LLC decreased its position in Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,919,131 shares of the company's stock after selling 1,105,050 shares during the quarter. Millennium Management LLC owned 4.63% of Verve Therapeutics worth $22,104,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. BVF Inc. IL raised its holdings in Verve Therapeutics by 962.2% during the fourth 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 in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Verve Therapeutics by 57.4% during 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 during the last quarter. Jacobs Levy Equity Management Inc. raised its stake 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 worth $10,423,000 after purchasing an additional 288,678 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Verve Therapeutics by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company's stock valued at $9,172,000 after buying an additional 25,093 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Verve Therapeutics by 12.7% in the 4th quarter. Northern Trust Corp now owns 650,562 shares of the company's stock valued at $3,669,000 after buying an additional 73,295 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Trading Up 5.5%

NASDAQ VERV opened at $4.61 on Wednesday. The business's 50-day moving average price is $4.71 and its two-hundred day moving average price is $5.84. The firm has a market capitalization of $410.95 million, a PE ratio of -1.87 and a beta of 1.82. Verve Therapeutics, Inc. has a 12 month low of $2.86 and a 12 month high of $9.31.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price 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. Royal Bank of Canada dropped their price objective on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. HC Wainwright lifted their target price on Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Guggenheim boosted their target price on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald raised Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $25.75.

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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