Barclays PLC Purchases 129,944 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Barclays PLC grew its position in Verve Therapeutics, Inc. (NASDAQ:VERV) by 139.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,919 shares of the company’s stock after purchasing an additional 129,944 shares during the quarter. Barclays PLC owned approximately 0.26% of Verve Therapeutics worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Verve Therapeutics by 27.3% during the third quarter. Public Employees Retirement System of Ohio now owns 58,700 shares of the company’s stock valued at $284,000 after purchasing an additional 12,600 shares in the last quarter. XTX Topco Ltd purchased a new stake in Verve Therapeutics during the third quarter valued at $500,000. State Street Corp raised its stake in Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after purchasing an additional 903,809 shares in the last quarter. Stifel Financial Corp raised its stake in Verve Therapeutics by 14.7% during the third quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock valued at $636,000 after purchasing an additional 16,842 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Verve Therapeutics during the third quarter valued at $83,000. 97.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $5.54 on Tuesday. Verve Therapeutics, Inc. has a 1 year low of $4.30 and a 1 year high of $19.34. The firm’s 50-day moving average is $5.83 and its two-hundred day moving average is $5.68. The stock has a market cap of $469.04 million, a price-to-earnings ratio of -2.25 and a beta of 1.71.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. The company had revenue of $6.87 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 120.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.72) EPS. On average, equities analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share 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.