Vanguard Group Inc. Increases Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Vanguard Group Inc. boosted its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 18.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,832,968 shares of the company's stock after acquiring an additional 741,753 shares during the period. Vanguard Group Inc. owned 7.58% of Verve Therapeutics worth $64,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Verve Therapeutics by 34.8% in the third quarter. Citigroup Inc. now owns 120,669 shares of the company's stock worth $1,600,000 after acquiring an additional 31,126 shares during the period. Rafferty Asset Management LLC raised its stake in Verve Therapeutics by 14.2% during the third quarter. Rafferty Asset Management LLC now owns 319,800 shares of the company's stock worth $4,241,000 after purchasing an additional 39,882 shares during the period. GSA Capital Partners LLP purchased a new position in Verve Therapeutics during the third quarter worth about $754,000. Swiss National Bank raised its stake in shares of Verve Therapeutics by 8.8% in the 3rd quarter. Swiss National Bank now owns 95,300 shares of the company's stock valued at $1,264,000 after acquiring an additional 7,700 shares during the period. Finally, Profund Advisors LLC raised its stake in shares of Verve Therapeutics by 8.0% in the 3rd quarter. Profund Advisors LLC now owns 47,093 shares of the company's stock valued at $624,000 after acquiring an additional 3,491 shares during the period. Hedge funds and other institutional investors own 97.11% of the company's stock.

Verve Therapeutics Trading Down 1.4 %

Verve Therapeutics stock traded down $0.12 during mid-day trading on Monday, reaching $8.40. The company's stock had a trading volume of 1,034,407 shares, compared to its average volume of 1,251,360. The firm has a market cap of $702.40 million, a price-to-earnings ratio of -2.69 and a beta of 1.70. Verve Therapeutics, Inc. has a twelve month low of $7.36 and a twelve month high of $21.42. The business has a 50 day moving average price of $12.98 and a 200-day moving average price of $12.68.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.14. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. The business had revenue of $5.14 million for the quarter, compared to analysts' expectations of $3.95 million. On average, equities analysts expect that Verve Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VERV has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 price target on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Finally, HC Wainwright began coverage on shares of Verve Therapeutics in a research note on Monday. They issued a "buy" rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.43.

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.