Norges Bank Purchases Shares of 78,186 Verve Therapeutics, Inc. (NASDAQ:VERV)

Norges Bank acquired a new position in Verve Therapeutics, Inc. (NASDAQ:VERV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 78,186 shares of the company’s stock, valued at approximately $441,000. Norges Bank owned about 0.09% of Verve Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Verve Therapeutics by 28.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock worth $2,769,000 after buying an additional 126,110 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Verve Therapeutics by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,041 shares of the company’s stock worth $557,000 after acquiring an additional 6,595 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Verve Therapeutics in the 3rd quarter worth $139,000. Stifel Financial Corp raised its holdings in shares of Verve Therapeutics by 14.7% in the third quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock valued at $636,000 after purchasing an additional 16,842 shares during the last quarter. Finally, State Street Corp lifted its position 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 valued at $20,586,000 after purchasing an additional 903,809 shares in the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VERV shares. Guggenheim reaffirmed a “buy” rating on shares of Verve Therapeutics in a research report on Tuesday, March 25th. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Royal Bank of Canada dropped their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Verve Therapeutics in a research report on Tuesday, March 25th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verve Therapeutics presently has a consensus rating of “Buy” and an average target price of $20.67.

Verve Therapeutics Stock Up 6.9 %

Verve Therapeutics stock opened at $3.26 on Friday. The firm has a 50 day moving average price of $5.99 and a 200-day moving average price of $5.93. Verve Therapeutics, Inc. has a twelve month low of $2.86 and a twelve month high of $9.31. The company has a market capitalization of $289.47 million, a P/E ratio of -1.33 and a beta of 1.86.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.14. The business had revenue of $13.08 million during the quarter, compared to analyst estimates of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Equities analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal 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.