California State Teachers Retirement System Boosts Stake in Verve Therapeutics, Inc. (NASDAQ:VERV)

California State Teachers Retirement System lifted its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 12.5% during the fourth quarter, Holdings Channel reports. The fund owned 63,500 shares of the company’s stock after purchasing an additional 7,046 shares during the quarter. California State Teachers Retirement System’s holdings in Verve Therapeutics were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VERV. BVF Inc. IL lifted its holdings in shares of Verve Therapeutics by 962.2% in the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after purchasing an additional 6,254,050 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Verve Therapeutics in the fourth quarter valued at $7,863,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock valued at $21,372,000 after acquiring an additional 1,382,176 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Verve Therapeutics during the fourth quarter valued at $1,643,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Verve Therapeutics by 18.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock worth $10,423,000 after acquiring an additional 288,678 shares during the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

Verve Therapeutics Stock Down 1.1%

VERV opened at $6.32 on Friday. The stock’s 50 day moving average price is $4.73 and its two-hundred day moving average price is $5.79. The firm has a market capitalization of $563.38 million, a P/E ratio of -2.57 and a beta of 1.67. Verve Therapeutics, Inc. has a 12-month low of $2.86 and a 12-month high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $32.98 million during the quarter, compared to analysts’ expectations of $7.13 million. As a group, analysts anticipate that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VERV. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. Canaccord Genuity Group raised their target price on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Guggenheim increased their price target on Verve Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada lowered their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

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.