Vestmark Advisory Solutions Inc. Purchases New Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Vestmark Advisory Solutions Inc. purchased a new position in Verve Therapeutics, Inc. (NASDAQ:VERV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 113,324 shares of the company’s stock, valued at approximately $1,580,000. Vestmark Advisory Solutions Inc. owned about 0.18% of Verve Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its stake in shares of Verve Therapeutics by 35.1% during the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock valued at $97,930,000 after buying an additional 1,824,549 shares in the last quarter. FMR LLC boosted its holdings in shares of Verve Therapeutics by 8.8% in the third quarter. FMR LLC now owns 6,577,562 shares of the company’s stock worth $87,218,000 after acquiring an additional 531,182 shares during the period. Vanguard Group Inc. grew its position in shares of Verve Therapeutics by 18.1% in the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock valued at $64,085,000 after purchasing an additional 741,753 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Verve Therapeutics by 57.2% during the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock valued at $55,486,000 after purchasing an additional 1,448,003 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Verve Therapeutics by 11.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company’s stock valued at $33,423,000 after purchasing an additional 250,361 shares during the period. Institutional investors own 97.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. HC Wainwright started coverage on Verve Therapeutics in a report on Monday, April 8th. They set a “buy” rating and a $15.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Verve Therapeutics Stock Performance

VERV stock traded up $0.03 during midday trading on Monday, hitting $6.44. The company had a trading volume of 100,889 shares, compared to its average volume of 1,210,534. Verve Therapeutics, Inc. has a 52 week low of $5.84 and a 52 week high of $21.42. The stock’s 50 day moving average price is $10.94 and its 200 day moving average price is $11.97.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.14. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The firm had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $3.95 million. Analysts expect that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current 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.