JPMorgan Chase & Co. reduced its position in Verve Therapeutics, Inc. (NASDAQ:VERV – Free Report) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,647,844 shares of the company’s stock after selling 43,508 shares during the quarter. JPMorgan Chase & Co.’s holdings in Verve Therapeutics were worth $7,976,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning purchased a new position in shares of Verve Therapeutics in the third quarter valued at approximately $50,000. PFG Investments LLC acquired a new stake in Verve Therapeutics during the 3rd quarter worth approximately $53,000. Erste Asset Management GmbH purchased a new position in Verve Therapeutics in the 3rd quarter valued at approximately $56,000. Daiwa Securities Group Inc. grew its stake in shares of Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after acquiring an additional 5,723 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Verve Therapeutics during the third quarter worth $74,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
VERV has been the subject of a number of recent research reports. HC Wainwright decreased their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada decreased their price objective 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. Finally, Canaccord Genuity Group upped their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.
Verve Therapeutics Price Performance
NASDAQ:VERV opened at $5.25 on Wednesday. Verve Therapeutics, Inc. has a 12 month low of $4.30 and a 12 month high of $19.34. The firm has a market capitalization of $444.49 million, a PE ratio of -2.13 and a beta of 1.68. The business’s fifty day moving average price is $5.83 and its 200 day moving average price is $5.74.
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.72) EPS. As a group, equities analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.
About Verve Therapeutics
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.
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