Y Intercept Hong Kong Ltd Acquires Shares of 51,441 Verve Therapeutics, Inc. (NASDAQ:VERV)

Y Intercept Hong Kong Ltd purchased a new position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VERV. KFG Wealth Management LLC purchased a new position in shares of Verve Therapeutics during the 1st quarter valued at about $46,000. Cambridge Investment Research Advisors Inc. bought a new position in Verve Therapeutics during the first quarter valued at approximately $47,000. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics during the fourth quarter worth approximately $50,000. Palumbo Wealth Management LLC bought a new stake in shares of Verve Therapeutics in the 1st quarter worth approximately $72,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Verve Therapeutics in the 1st quarter worth approximately $83,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Verve Therapeutics Stock Performance

Shares of Verve Therapeutics stock remained flat at $11.13 during trading on Friday. The firm's 50-day moving average price is $9.16 and its 200-day moving average price is $6.96. The company has a market cap of $992.13 million, a P/E 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 posted its 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. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The company had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Sell-side analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. William Blair lowered shares of Verve Therapeutics from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, June 17th. Guggenheim raised their price objective on Verve Therapeutics from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Jefferies Financial Group cut Verve Therapeutics from a "buy" rating to a "hold" rating and reduced their price objective for the company from $28.00 to $11.00 in a research note on Wednesday, June 18th. Cantor Fitzgerald raised Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group cut Verve Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $39.00 to $13.00 in a research note on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.57.

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.