Point72 Asset Management L.P. Buys New Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Point72 Asset Management L.P. bought a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,394,116 shares of the company’s stock, valued at approximately $7,863,000. Point72 Asset Management L.P. owned approximately 1.65% of Verve Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after purchasing an additional 8,237 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Verve Therapeutics in the 4th quarter valued at $50,000. Impact Partnership Wealth LLC acquired a new stake in Verve Therapeutics in the 4th quarter valued at $70,000. China Universal Asset Management Co. Ltd. lifted its position in Verve Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after buying an additional 1,676 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Verve Therapeutics during the 4th quarter worth about $101,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on VERV shares. HC Wainwright upped their target price on Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. Canaccord Genuity Group increased their price objective on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. William Blair restated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Six 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 Trading Up 7.2%

Shares of NASDAQ VERV opened at $4.63 on Monday. The company has a market capitalization of $412.73 million, a P/E ratio of -1.88 and a beta of 1.82. Verve Therapeutics, Inc. has a 12 month low of $2.86 and a 12 month high of $9.31. The stock has a 50 day moving average of $4.78 and a 200-day moving average of $5.86.

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 the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. Analysts predict 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.