The Manufacturers Life Insurance Company Grows Stock Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

The Manufacturers Life Insurance Company lifted its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,105 shares of the company’s stock after purchasing an additional 4,759 shares during the period. The Manufacturers Life Insurance Company’s holdings in Verve Therapeutics were worth $137,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of VERV. PNC Financial Services Group Inc. purchased a new stake in Verve Therapeutics in the fourth quarter worth about $29,000. Nomura Holdings Inc. increased its holdings in Verve Therapeutics by 5.0% in the 4th quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after acquiring an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Verve Therapeutics by 8.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock valued at $34,424,000 after purchasing an additional 194,594 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Verve Therapeutics by 52.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,795 shares of the company’s stock valued at $2,449,000 after acquiring an additional 59,034 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Verve Therapeutics by 8.1% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company’s stock worth $34,347,000 after acquiring an additional 194,594 shares during the last quarter. Institutional investors own 97.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Canaccord Genuity Group lowered their price objective on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a research note on Monday, August 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Verve Therapeutics currently has an average rating of “Buy” and a consensus target price of $26.00.

Verve Therapeutics Price Performance

Shares of VERV opened at $5.65 on Friday. The firm has a fifty day moving average price of $5.23 and a 200 day moving average price of $5.86. The stock has a market cap of $474.40 million, a PE ratio of -1.97 and a beta of 1.80. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $20.12.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The company had revenue of $6.70 million during the quarter, compared to the consensus estimate of $2.40 million. During the same quarter in the prior year, the firm earned ($0.87) EPS. Verve Therapeutics’s quarterly revenue was up 219.0% on a year-over-year basis. As a group, equities analysts expect that Verve Therapeutics, Inc. will post -2.65 EPS for the current fiscal 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.