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

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

A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake 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 purchasing an additional 129,944 shares during the last quarter. Norges Bank bought a new stake in shares of Verve Therapeutics in the fourth quarter valued at approximately $441,000. Nisa Investment Advisors LLC increased its position in shares of Verve Therapeutics by 465.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company's stock worth $241,000 after purchasing an additional 35,214 shares during the period. GAMMA Investing LLC raised its position in shares of Verve Therapeutics by 189.7% in the 4th 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 in the last quarter. Finally, Rhumbline Advisers lifted its stake in Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock worth $627,000 after purchasing an additional 2,093 shares during the last quarter. Institutional investors own 97.11% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada lowered their target price on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. HC Wainwright increased their price objective on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Canaccord Genuity Group increased their price target on Verve Therapeutics from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Guggenheim boosted their price objective on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald upgraded Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $25.75.

Verve Therapeutics Stock Down 3.0 %

VERV traded down $0.17 during midday trading on Thursday, hitting $5.50. 2,186,608 shares of the company were exchanged, compared to its average volume of 1,779,356. The firm's 50 day moving average price is $5.22 and its 200-day moving average price is $5.95. Verve Therapeutics, Inc. has a 1-year low of $2.86 and a 1-year high of $9.31. The firm has a market capitalization of $490.29 million, a P/E ratio of -2.24 and a beta of 1.86.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $13.08 million for the quarter, compared to analysts' expectations of $3.94 million. On average, sell-side analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

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.