Federated Hermes Inc. Has $5.62 Million Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Federated Hermes Inc. decreased its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 67.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,151,550 shares of the company’s stock after selling 2,405,027 shares during the period. Federated Hermes Inc. owned 1.37% of Verve Therapeutics worth $5,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in VERV. Vanguard Group Inc. boosted its position in Verve Therapeutics by 15.7% during the first quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock valued at $84,080,000 after acquiring an additional 859,382 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Verve Therapeutics during the second quarter worth approximately $1,183,000. Nikko Asset Management Americas Inc. grew its stake in 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 purchasing an additional 194,594 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Verve Therapeutics by 8.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock worth $34,424,000 after purchasing an additional 194,594 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 buying an additional 59,034 shares during the period. 97.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Verve Therapeutics Stock Up 2.2 %

Shares of VERV opened at $5.51 on Thursday. The stock has a market cap of $466.26 million, a P/E ratio of -1.92 and a beta of 1.83. The business’s fifty day moving average is $6.00 and its 200 day moving average is $7.18. Verve Therapeutics, Inc. has a 12-month low of $4.30 and a 12-month high of $20.12.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $2.40 million. During the same period last year, the company earned ($0.87) earnings per share. The business’s revenue was up 219.0% on a year-over-year basis. On average, analysts expect that Verve Therapeutics, Inc. will post -2.65 EPS for the current year.

About Verve Therapeutics

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.