Point72 Asset Management L.P. Invests $7.86 Million in Verve Therapeutics, Inc. (NASDAQ:VERV)

Point72 Asset Management L.P. purchased a new position in Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,394,116 shares of the company's stock, valued at approximately $7,863,000. Point72 Asset Management L.P. owned 1.65% of Verve Therapeutics as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

VERV has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Guggenheim lifted their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Cantor Fitzgerald raised shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. HC Wainwright raised their target price on Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of Verve Therapeutics in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Verve Therapeutics has an average rating of "Moderate Buy" and an average price target of $25.75.

Verve Therapeutics Trading Down 0.5%

Verve Therapeutics stock traded down $0.02 during trading on Friday, reaching $4.36. The company had a trading volume of 1,383,381 shares, compared to its average volume of 1,863,624. The firm has a market capitalization of $388.66 million, a price-to-earnings ratio of -1.77 and a beta of 1.82. Verve Therapeutics, Inc. has a 52 week low of $2.86 and a 52 week high of $9.31. The firm's 50-day simple moving average is $4.61 and its 200 day simple moving average is $5.80.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.71) by $0.36. The business had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. On average, analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share 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.