JPMorgan Chase & Co. Decreases Stock Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

JPMorgan Chase & Co. lessened its stake in Verve Therapeutics, Inc. (NASDAQ:VERVFree Report) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,647,844 shares of the company’s stock after selling 43,508 shares during the period. JPMorgan Chase & Co. owned 1.95% of Verve Therapeutics worth $7,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in VERV. Braidwell LP purchased a new position in Verve Therapeutics during the 3rd quarter worth $3,020,000. State Street Corp grew its stake in shares of Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after acquiring an additional 903,809 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Verve Therapeutics by 28.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock valued at $2,769,000 after acquiring an additional 126,110 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Verve Therapeutics in the 3rd quarter valued at approximately $500,000. Finally, Barclays PLC boosted its stake in Verve Therapeutics by 139.8% in the 3rd quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after purchasing an additional 129,944 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Price Performance

Verve Therapeutics stock opened at $5.25 on Wednesday. The stock has a market cap of $444.49 million, a price-to-earnings ratio of -2.13 and a beta of 1.68. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $19.34. The firm has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $5.74.

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

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on VERV

Verve Therapeutics Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Verve Therapeutics (NASDAQ:VERV)

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