American International Group Inc. grew its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV – Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,418 shares of the company’s stock after acquiring an additional 1,850 shares during the period. American International Group Inc.’s holdings in Verve Therapeutics were worth $458,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of VERV. Amundi bought a new stake in shares of Verve Therapeutics in the 4th quarter valued at about $45,000. Penserra Capital Management LLC bought a new stake in shares of Verve Therapeutics in the 1st quarter valued at about $46,000. Ameritas Investment Partners Inc. raised its holdings in shares of Verve Therapeutics by 133.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,827 shares of the company’s stock valued at $65,000 after purchasing an additional 1,616 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Verve Therapeutics by 2,168.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,013 shares of the company’s stock valued at $94,000 after purchasing an additional 4,792 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Verve Therapeutics in the 2nd quarter valued at about $99,000. Institutional investors own 97.11% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on VERV shares. Credit Suisse Group reiterated a “neutral” rating and issued a $31.00 target price on shares of Verve Therapeutics in a report on Friday, August 11th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Monday, November 13th. Lifesci Capital reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Tuesday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $22.00 target price on shares of Verve Therapeutics in a report on Wednesday, September 13th. Finally, Guggenheim reduced their target price on Verve Therapeutics from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.00.
Verve Therapeutics Price Performance
NASDAQ VERV opened at $11.73 on Friday. The stock’s fifty day moving average price is $12.21 and its 200 day moving average price is $15.50. Verve Therapeutics, Inc. has a 1 year low of $8.22 and a 1 year high of $24.78. The company has a market cap of $747.79 million, a price-to-earnings ratio of -3.78 and a beta of 1.61.
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last released its earnings results on Tuesday, November 7th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.18. Verve Therapeutics had a negative return on equity of 38.83% and a negative net margin of 2,528.19%. The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $0.96 million. The firm’s revenue was up 244.4% on a year-over-year basis. Research analysts expect that Verve Therapeutics, Inc. will post -3.3 earnings per share for the current year.
Verve Therapeutics Profile
Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.
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