T. Rowe Price Investment Management Inc. Sells 72,474 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

T. Rowe Price Investment Management Inc. lowered its position in Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,352,599 shares of the company's stock after selling 72,474 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.78% of Verve Therapeutics worth $13,269,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in VERV. GAMMA Investing LLC boosted its holdings in shares of Verve Therapeutics by 189.7% in the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company's stock valued at $34,000 after buying an additional 3,964 shares during the period. IFP Advisors Inc lifted its position in 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 acquiring an additional 8,237 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in Verve Therapeutics in the 4th quarter worth $70,000. China Universal Asset Management Co. Ltd. increased its holdings in 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 worth $101,000 after purchasing an additional 1,676 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Verve Therapeutics in the 4th quarter valued at about $101,000. Institutional investors and hedge funds own 97.11% of the company's stock.

Verve Therapeutics Trading Down 5.6 %

Shares of VERV traded down $0.31 during midday trading on Friday, reaching $5.19. The stock had a trading volume of 2,918,009 shares, compared to its average volume of 1,788,886. The firm has a market cap of $462.65 million, a PE ratio of -2.11 and a beta of 1.86. The firm has a 50 day simple moving average of $5.16 and a 200-day simple moving average of $5.95. 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 posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. As a group, research analysts forecast that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VERV shares. Royal Bank of Canada decreased their price objective on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. HC Wainwright lifted their price objective on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a report on Monday, April 14th. Guggenheim increased their target price on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Tuesday, April 15th. Finally, William Blair restated an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "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.