JPMorgan Chase & Co. Sells 1,230,305 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

JPMorgan Chase & Co. reduced its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 74.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 417,539 shares of the company's stock after selling 1,230,305 shares during the period. JPMorgan Chase & Co. owned about 0.49% of Verve Therapeutics worth $2,355,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VERV. Stifel Financial Corp increased its position in Verve Therapeutics by 14.7% in the 3rd quarter. Stifel Financial Corp now owns 131,406 shares of the company's stock valued at $636,000 after acquiring an additional 16,842 shares in the last quarter. Barclays PLC grew its position in shares of Verve Therapeutics by 139.8% during the 3rd quarter. Barclays PLC now owns 222,919 shares of the company's stock worth $1,079,000 after buying an additional 129,944 shares during the period. Geode Capital Management LLC grew its position in shares of Verve Therapeutics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,600,687 shares of the company's stock worth $7,749,000 after buying an additional 40,915 shares during the period. Franklin Resources Inc. grew its position in shares of Verve Therapeutics by 20.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,155 shares of the company's stock worth $172,000 after buying an additional 5,914 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company's stock worth $34,000 after buying an additional 3,964 shares during the period. 97.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on VERV. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Guggenheim lifted their price objective 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. HC Wainwright lifted their price objective on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Verve Therapeutics from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $25.75.

Verve Therapeutics Stock Down 4.7 %

Shares of VERV stock traded down $0.27 during trading on Tuesday, reaching $5.46. The company's stock had a trading volume of 2,143,933 shares, compared to its average volume of 1,773,581. The business has a fifty day moving average price of $5.25 and a 200-day moving average price of $5.95. The company has a market cap of $484.83 million, a price-to-earnings ratio of -2.22 and a beta of 1.86. Verve Therapeutics, Inc. has a one year low of $2.86 and a one year high of $9.31.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping analysts' consensus estimates of ($0.72) by $0.14. The business had revenue of $13.08 million for the quarter, compared to analyst estimates of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Research analysts anticipate 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.