Verve Therapeutics, Inc. (NASDAQ:VERV) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 46.6% in the fourth quarter, Holdings Channel reports. The fund owned 26,690 shares of the company’s stock after selling 23,310 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Verve Therapeutics were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Verve Therapeutics by 34.8% during the 3rd 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. Vanguard Group Inc. lifted its position in Verve Therapeutics by 18.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock worth $64,085,000 after acquiring an additional 741,753 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Verve Therapeutics by 35.1% in the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock valued at $97,930,000 after buying an additional 1,824,549 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Verve Therapeutics by 14.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 319,800 shares of the company’s stock valued at $4,241,000 after buying an additional 39,882 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at approximately $754,000. 97.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VERV has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price target on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Finally, HC Wainwright started coverage on Verve Therapeutics in a report on Monday, April 8th. They set a “buy” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Price Performance

Verve Therapeutics stock opened at $7.31 on Tuesday. The stock has a fifty day moving average of $12.67 and a two-hundred day moving average of $12.52. Verve Therapeutics, Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.14. The company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. Research analysts predict that Verve Therapeutics, Inc. will post -2.92 earnings per share 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.