Fiduciary Trust Co Grows Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Fiduciary Trust Co lifted its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 400.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 50,000 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Fiduciary Trust Co’s holdings in Verve Therapeutics were worth $242,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Verve Therapeutics by 15.7% in the first quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock valued at $84,080,000 after purchasing an additional 859,382 shares during the period. Novo Holdings A S boosted its holdings in Verve Therapeutics by 20.0% in the 2nd quarter. Novo Holdings A S now owns 2,400,000 shares of the company’s stock worth $11,712,000 after acquiring an additional 400,000 shares during the period. Cubist Systematic Strategies LLC grew its position in Verve Therapeutics by 245.5% in the second quarter. Cubist Systematic Strategies LLC now owns 395,699 shares of the company’s stock valued at $1,931,000 after acquiring an additional 281,173 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Verve Therapeutics by 138.1% during the second quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock valued at $2,316,000 after purchasing an additional 275,173 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Verve Therapeutics during the second quarter worth $1,183,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada cut their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, HC Wainwright lowered their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th.

Verve Therapeutics Price Performance

NASDAQ VERV opened at $5.61 on Monday. The company has a market capitalization of $474.94 million, a price-to-earnings ratio of -2.28 and a beta of 1.75. Verve Therapeutics, Inc. has a 12 month low of $4.30 and a 12 month high of $19.34. The company’s fifty day moving average price is $5.37 and its two-hundred day moving average price is $5.59.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.11. The business had revenue of $6.87 million for the quarter, compared to analysts’ expectations of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.72) earnings per share. As a group, analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS 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.