State Board of Administration of Florida Retirement System Invests $295,000 in Verve Therapeutics, Inc. (NASDAQ:VERV)

State Board of Administration of Florida Retirement System acquired a new position in Verve Therapeutics, Inc. (NASDAQ:VERVGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,320 shares of the company’s stock, valued at approximately $295,000.

Other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new position in Verve Therapeutics during the first quarter valued at approximately $46,000. Ameritas Investment Partners Inc. grew its holdings in Verve Therapeutics by 133.4% in the first quarter. Ameritas Investment Partners Inc. now owns 2,827 shares of the company’s stock valued at $65,000 after purchasing an additional 1,616 shares during the period. Amalgamated Bank acquired a new stake in Verve Therapeutics in the first quarter valued at approximately $100,000. Ensign Peak Advisors Inc grew its holdings in Verve Therapeutics by 146.5% in the first quarter. Ensign Peak Advisors Inc now owns 4,610 shares of the company’s stock valued at $105,000 after purchasing an additional 2,740 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Verve Therapeutics in the first quarter valued at approximately $120,000. 59.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Verve Therapeutics news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Verve Therapeutics news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Verve Therapeutics stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Krishna Yeshwant sold 53,696 shares of Verve Therapeutics stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $2,074,813.44. Following the completion of the sale, the director now owns 4,418,813 shares in the company, valued at approximately $170,742,934.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 485,126 shares of company stock valued at $17,136,933. Insiders own 26.40% of the company’s stock.

Verve Therapeutics Stock Performance

NASDAQ VERV opened at $22.39 on Tuesday. The stock’s fifty day moving average is $32.54 and its two-hundred day moving average is $26.40. The firm has a market capitalization of $1.38 billion, a P/E ratio of -8.07 and a beta of 1.86. Verve Therapeutics, Inc. has a fifty-two week low of $10.70 and a fifty-two week high of $43.00.

Analyst Ratings Changes

VERV has been the topic of several research analyst reports. Guggenheim dropped their price objective on Verve Therapeutics to $56.00 in a report on Monday, July 25th. Stifel Nicolaus raised Verve Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $56.00 in a research note on Wednesday, August 24th. Royal Bank of Canada lowered their price target on Verve Therapeutics from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 8th. Finally, Credit Suisse Group lowered their price target on Verve Therapeutics to $37.00 in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.20.

Verve Therapeutics Company Profile

(Get Rating)

Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.

See Also

Institutional Ownership by Quarter for Verve Therapeutics (NASDAQ:VERV)

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