Teacher Retirement System of Texas Decreases Stake in Verve Therapeutics, Inc. (NASDAQ:VERV)

Teacher Retirement System of Texas lowered its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 15.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,132 shares of the company’s stock after selling 3,122 shares during the period. Teacher Retirement System of Texas’ holdings in Verve Therapeutics were worth $78,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VERV. ProShare Advisors LLC boosted its holdings in shares of Verve Therapeutics by 30.4% in the fourth quarter. ProShare Advisors LLC now owns 24,016 shares of the company’s stock valued at $135,000 after acquiring an additional 5,592 shares in the last quarter. Norges Bank purchased a new stake in Verve Therapeutics in the 4th quarter valued at approximately $441,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Verve Therapeutics by 16.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 144,749 shares of the company’s stock valued at $816,000 after purchasing an additional 20,483 shares in the last quarter. Wells Fargo & Company MN increased its position in Verve Therapeutics by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 45,422 shares of the company’s stock worth $256,000 after purchasing an additional 9,083 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics during the 4th quarter worth approximately $50,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

Verve Therapeutics Price Performance

Verve Therapeutics stock opened at $10.93 on Tuesday. The firm has a 50-day moving average of $7.95 and a two-hundred day moving average of $6.66. Verve Therapeutics, Inc. has a 1 year low of $2.86 and a 1 year high of $11.41. The stock has a market cap of $974.30 million, a price-to-earnings ratio of -5.18 and a beta of 2.23.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.36. The business had revenue of $32.98 million during the quarter, compared to analysts’ expectations of $7.13 million. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. Research analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VERV. Wall Street Zen upgraded Verve Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut Verve Therapeutics from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $13.00 in a report on Tuesday, June 17th. Guggenheim boosted their target price on Verve Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. BMO Capital Markets reiterated a “market perform” rating and set a $13.50 target price (down previously from $20.00) on shares of Verve Therapeutics in a report on Friday, June 27th. Finally, Lifesci Capital cut Verve Therapeutics from a “strong-buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Verve Therapeutics currently has an average rating of “Hold” and a consensus target price of $14.57.

Verve Therapeutics Company 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.