Verve Therapeutics, Inc. (NASDAQ:VERV) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592,198 shares of the company’s stock after buying an additional 194,594 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 3.10% of Verve Therapeutics worth $34,424,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in Verve Therapeutics in the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics in the 4th quarter valued at $30,000. Quest Partners LLC acquired a new stake in Verve Therapeutics during the 4th quarter worth $34,000. Daiwa Securities Group Inc. raised its stake in Verve Therapeutics by 35.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock worth $94,000 after acquiring an additional 1,759 shares in the last quarter. Finally, PBCay One RSC Ltd acquired a new position in Verve Therapeutics in the fourth quarter valued at $96,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Andrew D. Ashe purchased 76,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $6.26 per share, with a total value of $475,760.00. Following the completion of the acquisition, the insider now directly owns 342,509 shares of the company’s stock, valued at approximately $2,144,106.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 19.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VERV. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Verve Therapeutics in a research report on Thursday, May 9th. Stifel Nicolaus reduced their price objective on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.00.

Verve Therapeutics Trading Up 2.1 %

Shares of VERV stock opened at $5.25 on Monday. The business’s 50 day moving average is $5.54 and its two-hundred day moving average is $9.82. Verve Therapeutics, Inc. has a twelve month low of $4.59 and a twelve month high of $21.04.

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

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.