Geode Capital Management LLC Raises Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Geode Capital Management LLC grew its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,600,687 shares of the company’s stock after purchasing an additional 40,915 shares during the quarter. Geode Capital Management LLC owned 1.89% of Verve Therapeutics worth $7,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Creative Planning acquired a new stake in Verve Therapeutics during the 3rd quarter worth approximately $50,000. PFG Investments LLC acquired a new stake in shares of Verve Therapeutics in the third quarter valued at $53,000. Erste Asset Management GmbH purchased a new position in Verve Therapeutics in the third quarter valued at $56,000. Daiwa Securities Group Inc. grew its stake in Verve Therapeutics by 89.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its holdings in Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after purchasing an additional 1,778 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

Verve Therapeutics Stock Performance

VERV opened at $6.01 on Friday. Verve Therapeutics, Inc. has a one year low of $4.30 and a one year high of $19.34. The company has a market cap of $508.83 million, a P/E ratio of -2.44 and a beta of 1.71. The business’s 50-day simple moving average is $5.84 and its 200-day simple moving average is $5.69.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.11. The company had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm’s revenue was up 120.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.72) earnings per share. As a group, analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VERV shares. Canaccord Genuity Group lifted their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright decreased their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th.

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.