Point72 Asset Management L.P. Purchases New Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Point72 Asset Management L.P. purchased a new position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,394,116 shares of the company's stock, valued at approximately $7,863,000. Point72 Asset Management L.P. owned about 1.65% of Verve Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VERV. Nisa Investment Advisors LLC raised its holdings in shares of Verve Therapeutics by 465.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company's stock worth $241,000 after purchasing an additional 35,214 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in Verve Therapeutics during the 4th quarter worth about $70,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Verve Therapeutics by 10.3% during the 4th 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 lifted its holdings in shares of Verve Therapeutics by 1.9% in the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock valued at $627,000 after buying an additional 2,093 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock valued at $47,000 after buying an additional 8,237 shares during the period. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Verve Therapeutics Trading Up 3.5%

VERV traded up $0.15 during trading on Thursday, hitting $4.38. The company's stock had a trading volume of 2,333,510 shares, compared to its average volume of 1,860,387. The firm has a market capitalization of $390.45 million, a price-to-earnings ratio of -1.78 and a beta of 1.82. Verve Therapeutics, Inc. has a twelve month low of $2.86 and a twelve month high of $9.31. The business's fifty day simple moving average is $4.68 and its 200 day simple moving average is $5.83.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.71) by $0.36. The firm 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, equities research analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Verve Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday. Cantor Fitzgerald raised shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price objective 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. One equities 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

About Verve Therapeutics

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.