China Universal Asset Management Co. Ltd. Purchases 6,412 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

China Universal Asset Management Co. Ltd. grew its position in Verve Therapeutics, Inc. (NASDAQ:VERV) by 65.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,276 shares of the company’s stock after purchasing an additional 6,412 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Verve Therapeutics were worth $79,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Verve Therapeutics by 15.7% during the 1st 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 during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 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 purchasing an additional 194,594 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Verve Therapeutics by 8.1% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company’s stock valued at $34,347,000 after purchasing an additional 194,594 shares in the last quarter. Novo Holdings A S grew its position in shares of Verve Therapeutics by 20.0% in the 2nd quarter. Novo Holdings A S now owns 2,400,000 shares of the company’s stock valued at $11,712,000 after purchasing an additional 400,000 shares during the period. Finally, Renaissance Technologies LLC increased its stake in 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. 97.11% of the stock is owned by institutional investors.

Verve Therapeutics Trading Down 1.0 %

Verve Therapeutics stock opened at $5.73 on Friday. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $20.12. The company has a fifty day simple moving average of $5.41 and a 200 day simple moving average of $5.72. The company has a market cap of $484.90 million, a P/E ratio of -2.21 and a beta of 1.80.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results 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 return on equity of 35.20% and a negative net margin of 933.08%. The business had revenue of $6.70 million for the quarter, compared to the consensus estimate of $2.40 million. During the same quarter in the previous year, the business earned ($0.87) earnings per share. Verve Therapeutics’s quarterly revenue was up 219.0% on a year-over-year basis. On average, equities research analysts forecast that Verve Therapeutics, Inc. will post -2.65 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Canaccord Genuity Group lowered their target price on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price 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.