Northern Trust Corp Raises Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Northern Trust Corp increased its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,562 shares of the company’s stock after acquiring an additional 73,295 shares during the period. Northern Trust Corp owned approximately 0.77% of Verve Therapeutics worth $3,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its position in Verve Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after acquiring an additional 1,676 shares in the last quarter. Rhumbline Advisers grew its position in Verve Therapeutics by 1.9% in the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after acquiring an additional 2,093 shares in the last quarter. Arizona State Retirement System grew its position in Verve Therapeutics by 15.8% in the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after acquiring an additional 2,669 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Verve Therapeutics by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock worth $313,000 after acquiring an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. grew its position in Verve Therapeutics by 5.7% in the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock worth $322,000 after acquiring an additional 3,080 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Price Performance

Shares of NASDAQ:VERV opened at $4.38 on Friday. Verve Therapeutics, Inc. has a 1 year low of $2.86 and a 1 year high of $9.31. The business has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $5.82. The firm has a market capitalization of $390.45 million, a PE ratio of -1.78 and a beta of 1.82.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.36. The firm had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Equities research analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VERV shares. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 15th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research 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 for the company in a research report on Tuesday, March 4th. Guggenheim boosted their target price on Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Finally, Wall Street Zen upgraded Verve Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Verve Therapeutics has an average rating of “Moderate Buy” and an average price target of $25.75.

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.