GAMMA Investing LLC Boosts Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

GAMMA Investing LLC lifted its stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 189.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,054 shares of the company’s stock after buying an additional 3,964 shares during the period. GAMMA Investing LLC’s holdings in Verve Therapeutics were worth $34,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of VERV. Bank of New York Mellon Corp boosted its holdings in shares of Verve Therapeutics by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 274,873 shares of the company’s stock valued at $1,341,000 after buying an additional 49,922 shares in the last quarter. Rhumbline Advisers lifted its position in Verve Therapeutics by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 112,446 shares of the company’s stock valued at $549,000 after acquiring an additional 12,199 shares during the period. Arizona State Retirement System boosted its stake in Verve Therapeutics by 14.1% during the second quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock worth $80,000 after acquiring an additional 2,019 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Verve Therapeutics by 21.8% during the second quarter. American Century Companies Inc. now owns 92,500 shares of the company’s stock valued at $451,000 after purchasing an additional 16,525 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Trading Down 4.5 %

Shares of VERV stock opened at $5.25 on Wednesday. The stock has a market capitalization of $444.49 million, a price-to-earnings ratio of -2.13 and a beta of 1.68. Verve Therapeutics, Inc. has a 12-month low of $4.30 and a 12-month high of $19.34. The stock’s 50-day moving average price is $5.83 and its 200-day moving average price is $5.74.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share 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 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.72) earnings per share. As a group, research analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank of Canada dropped 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. HC Wainwright dropped their price target 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. Finally, Canaccord Genuity Group increased their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Verve Therapeutics 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.