International Assets Investment Management LLC Acquires New Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

International Assets Investment Management LLC acquired a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) during the 4th quarter, Holdings Channel.com reports. The fund acquired 6,970 shares of the company’s stock, valued at approximately $97,000.

Several other hedge funds also recently made changes to their positions in VERV. China Universal Asset Management Co. Ltd. raised its position in shares of Verve Therapeutics by 437.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,815 shares of the company’s stock valued at $123,000 after acquiring an additional 7,174 shares in the last quarter. Merit Financial Group LLC bought a new stake in Verve Therapeutics during the third quarter valued at $151,000. Teacher Retirement System of Texas raised its holdings in shares of Verve Therapeutics by 10.8% during the third quarter. Teacher Retirement System of Texas now owns 12,058 shares of the company’s stock worth $160,000 after purchasing an additional 1,174 shares during the period. Arizona State Retirement System lifted its position in shares of Verve Therapeutics by 9.3% in the 3rd quarter. Arizona State Retirement System now owns 12,343 shares of the company’s stock worth $164,000 after buying an additional 1,054 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Verve Therapeutics by 11.6% in the 3rd quarter. E Fund Management Co. Ltd. now owns 14,397 shares of the company’s stock valued at $191,000 after buying an additional 1,499 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

Analyst Upgrades and Downgrades

VERV has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. HC Wainwright initiated coverage on Verve Therapeutics in a research report on Monday, April 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s 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 Stock Up 1.6 %

VERV stock opened at $6.26 on Tuesday. The company has a market capitalization of $523.46 million, a P/E ratio of -2.01 and a beta of 1.70. The company has a 50-day simple moving average of $11.50 and a 200 day simple moving average of $12.12. Verve Therapeutics, Inc. has a fifty-two week low of $6.02 and a fifty-two week high of $21.42.

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