Erste Asset Management GmbH Purchases New Shares in Verve Therapeutics, Inc. (NASDAQ:VERV)

Erste Asset Management GmbH purchased a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,300 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Novo Holdings A S increased its holdings in Verve Therapeutics by 20.0% during the 2nd quarter. Novo Holdings A S now owns 2,400,000 shares of the company’s stock valued at $11,712,000 after purchasing an additional 400,000 shares in the last quarter. FMR LLC increased its holdings in Verve Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock valued at $6,868,000 after purchasing an additional 3,873 shares in the last quarter. Braidwell LP acquired a new stake in Verve Therapeutics during the 3rd quarter valued at $3,020,000. Charles Schwab Investment Management Inc. increased its holdings in Verve Therapeutics by 28.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock valued at $2,769,000 after purchasing an additional 126,110 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in shares of Verve Therapeutics by 5.0% in the 3rd quarter. Vestal Point Capital LP now owns 525,000 shares of the company’s stock valued at $2,541,000 after buying an additional 25,000 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VERV. Royal Bank of Canada lowered their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. HC Wainwright lowered their target price 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. Finally, Canaccord Genuity Group lifted their target price on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Verve Therapeutics Stock Down 5.4 %

Shares of Verve Therapeutics stock opened at $6.63 on Thursday. Verve Therapeutics, Inc. has a 12 month low of $4.30 and a 12 month high of $19.34. The business has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $5.60. The stock has a market cap of $561.30 million, a PE ratio of -2.79 and a beta of 1.71.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.11. The business had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.72) earnings per share. Analysts expect 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.