Arizona State Retirement System Acquires 3,017 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Arizona State Retirement System boosted its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 24.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,360 shares of the company’s stock after purchasing an additional 3,017 shares during the period. Arizona State Retirement System’s holdings in Verve Therapeutics were worth $214,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Amundi acquired a new stake in Verve Therapeutics during the fourth quarter worth about $45,000. Penserra Capital Management LLC acquired a new stake in Verve Therapeutics during the first quarter worth about $46,000. Point72 Asset Management L.P. grew its stake in Verve Therapeutics by 2,521.0% during the second quarter. Point72 Asset Management L.P. now owns 3,250 shares of the company’s stock worth $61,000 after buying an additional 3,126 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake 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. Finally, Quantbot Technologies LP acquired a new stake in shares of Verve Therapeutics in the 2nd quarter valued at approximately $99,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VERV. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Stifel Nicolaus cut their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, HC Wainwright began coverage on shares of Verve Therapeutics in a research report on Monday, April 8th. They set a “buy” rating and a $15.00 target price on the stock. 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, Verve Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV opened at $6.64 on Monday. The company’s 50-day moving average is $12.28 and its 200 day moving average is $12.36. The company has a market capitalization of $555.24 million, a P/E ratio of -2.13 and a beta of 1.70. Verve Therapeutics, Inc. has a fifty-two week low of $6.42 and a fifty-two week high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. The company had revenue of $5.14 million for the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. As a group, 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.