Algert Global LLC Acquires Shares of 137,496 Verve Therapeutics, Inc. (NASDAQ:VERV)

Algert Global LLC bought a new position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 137,496 shares of the company’s stock, valued at approximately $671,000. Algert Global LLC owned about 0.16% of Verve Therapeutics as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Verve Therapeutics by 8.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock worth $34,424,000 after acquiring an additional 194,594 shares during the last quarter. PBCay One RSC Ltd purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at approximately $96,000. ProShare Advisors LLC increased its holdings in shares of Verve Therapeutics by 31.0% in the first quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock valued at $235,000 after purchasing an additional 4,184 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $84,080,000 after buying an additional 859,382 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Verve Therapeutics during the first quarter worth $191,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Stock Up 5.9 %

Shares of Verve Therapeutics stock opened at $5.00 on Friday. The business’s fifty day simple moving average is $5.46 and its 200-day simple moving average is $6.44. The firm has a market cap of $423.10 million, a PE ratio of -1.74 and a beta of 1.80. Verve Therapeutics, Inc. has a 52 week low of $4.30 and a 52 week high of $20.12.

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

Wall Street Analyst Weigh In

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

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.