Newbridge Financial Services Group Inc. Purchases New Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Newbridge Financial Services Group Inc. purchased a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,182 shares of the company’s stock, valued at approximately $30,000.

Several other institutional investors have also made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in shares of Verve Therapeutics by 35.1% in the fourth quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock valued at $97,930,000 after buying an additional 1,824,549 shares during the period. FMR LLC boosted its stake in shares of Verve Therapeutics by 8.8% in the third quarter. FMR LLC now owns 6,577,562 shares of the company’s stock valued at $87,218,000 after buying an additional 531,182 shares during the period. Vanguard Group Inc. boosted its stake in shares of Verve Therapeutics by 18.1% in the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock valued at $64,085,000 after buying an additional 741,753 shares during the period. Federated Hermes Inc. boosted its stake in shares of Verve Therapeutics by 57.2% in the fourth quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock valued at $55,486,000 after buying an additional 1,448,003 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Verve Therapeutics by 11.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company’s stock valued at $33,423,000 after buying an additional 250,361 shares during the period. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $5.10 on Wednesday. Verve Therapeutics, Inc. has a twelve month low of $4.90 and a twelve month high of $21.04. The company’s fifty day moving average is $6.10 and its 200 day moving average is $10.60.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative net margin of 1,226.51% and a negative return on equity of 37.35%. The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $2.11 million. The business’s quarterly revenue was up 305.6% on a year-over-year basis. Analysts expect that Verve Therapeutics, Inc. will post -2.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Stifel Nicolaus lowered their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Verve Therapeutics in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling

In other news, insider Andrew D. Ashe purchased 76,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $6.26 per share, with a total value of $475,760.00. Following the completion of the transaction, the insider now owns 342,509 shares of the company’s stock, valued at approximately $2,144,106.34. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.30% of the stock is currently owned by insiders.

Verve Therapeutics Company 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.