Vestal Point Capital LP Has $2.54 Million Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Vestal Point Capital LP raised its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 525,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Vestal Point Capital LP owned 0.62% of Verve Therapeutics worth $2,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Verve Therapeutics by 15.7% in the first quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after acquiring an additional 859,382 shares during the last quarter. Algert Global LLC acquired a new position in Verve Therapeutics in the 2nd quarter worth about $671,000. Renaissance Technologies LLC raised its stake in shares of Verve Therapeutics by 138.1% during the 2nd quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock worth $2,316,000 after purchasing an additional 275,173 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Verve Therapeutics by 2,258.5% in the 2nd quarter. GAMMA Investing LLC now owns 17,123 shares of the company’s stock valued at $84,000 after buying an additional 16,397 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Verve Therapeutics by 28.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,366 shares of the company’s stock valued at $337,000 after buying an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on VERV. HC Wainwright reduced their target price 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. Canaccord Genuity Group upped their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th.

Verve Therapeutics Stock Performance

Shares of Verve Therapeutics stock opened at $5.78 on Friday. Verve Therapeutics, Inc. has a 1 year low of $4.30 and a 1 year high of $19.34. The company’s fifty day simple moving average is $5.36 and its 200-day simple moving average is $5.60.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.11. The business had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm’s revenue for the quarter was up 120.2% compared to the same quarter last year. During the same period last year, the business earned ($0.72) earnings per share. Equities analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current 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.