State Street Corp Boosts Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

State Street Corp grew its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,253,217 shares of the company’s stock after purchasing an additional 903,809 shares during the quarter. State Street Corp owned approximately 5.02% of Verve Therapeutics worth $20,586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Braidwell LP bought a new stake in shares of Verve Therapeutics in the 3rd quarter worth approximately $3,020,000. Charles Schwab Investment Management Inc. raised its stake in shares of Verve Therapeutics by 28.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock valued at $2,769,000 after buying an additional 126,110 shares during the period. Algert Global LLC raised its stake in shares of Verve Therapeutics by 63.1% in the third quarter. Algert Global LLC now owns 224,216 shares of the company’s stock valued at $1,085,000 after buying an additional 86,720 shares during the period. FMR LLC lifted its position in shares of Verve Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock valued at $6,868,000 after buying an additional 3,873 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Verve Therapeutics by 138.1% during the 2nd quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock worth $2,316,000 after acquiring an additional 275,173 shares during the period. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Stock Up 2.8 %

Shares of NASDAQ VERV opened at $5.90 on Tuesday. The company has a market cap of $499.52 million, a P/E ratio of -2.40 and a beta of 1.71. Verve Therapeutics, Inc. has a 52 week low of $4.30 and a 52 week high of $19.34. The business has a 50-day simple moving average of $5.78 and a two-hundred day simple moving average of $5.66.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. The company had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Verve Therapeutics’s revenue was up 120.2% compared to the same quarter last year. During the same period last year, the business earned ($0.72) earnings per share. Equities research analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VERV shares. Canaccord Genuity Group boosted their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, HC Wainwright cut their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th.

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.