Verve Therapeutics, Inc. (NASDAQ:VERV) Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 74.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 417,539 shares of the company’s stock after selling 1,230,305 shares during the period. JPMorgan Chase & Co. owned 0.49% of Verve Therapeutics worth $2,355,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Stifel Financial Corp grew its stake in Verve Therapeutics by 14.7% in the third quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock worth $636,000 after purchasing an additional 16,842 shares in the last quarter. Barclays PLC lifted its holdings in Verve Therapeutics by 139.8% during the 3rd quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after buying an additional 129,944 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Verve Therapeutics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,600,687 shares of the company’s stock worth $7,749,000 after acquiring an additional 40,915 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Verve Therapeutics by 20.9% in the 3rd quarter. Franklin Resources Inc. now owns 34,155 shares of the company’s stock valued at $172,000 after acquiring an additional 5,914 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after acquiring an additional 3,964 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Analysts Set New Price Targets

VERV has been the subject of a number of research reports. Guggenheim lifted their price objective on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Canaccord Genuity Group lifted their price target on shares of Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. HC Wainwright raised their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Royal Bank of Canada lowered their target price on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verve Therapeutics currently has a consensus rating of “Buy” and an average target price of $25.75.

Verve Therapeutics Stock Up 4.2 %

VERV stock opened at $5.47 on Thursday. The stock has a market cap of $485.71 million, a PE ratio of -2.22 and a beta of 1.86. The firm’s 50-day simple moving average is $5.45 and its 200 day simple moving average is $5.92. Verve Therapeutics, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. The company 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 forecast that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

About Verve Therapeutics

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.