Y Intercept Hong Kong Ltd Invests $235,000 in Verve Therapeutics, Inc. (NASDAQ:VERV)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,441 shares of the company's stock, valued at approximately $235,000. Y Intercept Hong Kong Ltd owned about 0.06% of Verve Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. KFG Wealth Management LLC acquired a new stake in Verve Therapeutics in the 1st quarter worth about $46,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Verve Therapeutics in the 1st quarter worth about $47,000. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics in the 4th quarter worth about $50,000. Palumbo Wealth Management LLC purchased a new position in shares of Verve Therapeutics in the 1st quarter worth about $72,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Verve Therapeutics in the 1st quarter worth about $83,000. 97.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VERV has been the topic of a number of research reports. HC Wainwright downgraded Verve Therapeutics from a "buy" rating to a "neutral" rating and set a $13.50 price objective on the stock. in a report on Wednesday, June 18th. Guggenheim raised their price objective on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Lifesci Capital downgraded Verve Therapeutics from a "strong-buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a report on Wednesday, June 18th. Wall Street Zen upgraded Verve Therapeutics to a "hold" rating in a report on Saturday, July 26th. Finally, Jefferies Financial Group downgraded Verve Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the company from $28.00 to $11.00 in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.57.

Verve Therapeutics Stock Performance

Shares of VERV stock remained flat at $11.13 during trading hours on Friday. The business has a 50-day simple moving average of $9.30 and a 200 day simple moving average of $7.01. The company has a market capitalization of $992.13 million, a price-to-earnings ratio of -5.27 and a beta of 2.23. Verve Therapeutics, Inc. has a 1-year low of $2.86 and a 1-year high of $11.40.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its quarterly 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 return on equity of 35.81% and a negative net margin of 303.64%. The firm had revenue of $32.98 million for the quarter, compared to the consensus estimate of $7.13 million. Equities research analysts forecast that Verve Therapeutics, Inc. will post -2.49 EPS for the current 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.