20,428 Shares in Verve Therapeutics, Inc. (NASDAQ:VERV) Purchased by HighTower Advisors LLC

HighTower Advisors LLC acquired a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) in the fourth quarter, Holdings Channel reports. The fund acquired 20,428 shares of the company’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VERV. Arizona State Retirement System raised its holdings in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock valued at $111,000 after acquiring an additional 2,669 shares during the period. US Bancorp DE raised its stake in Verve Therapeutics by 62.8% during the 4th quarter. US Bancorp DE now owns 30,616 shares of the company’s stock valued at $173,000 after purchasing an additional 11,810 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Verve Therapeutics by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 220,502 shares of the company’s stock valued at $1,244,000 after purchasing an additional 5,262 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after buying an additional 8,237 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after buying an additional 2,093 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Guggenheim restated a “buy” rating on shares of Verve Therapeutics in a report on Tuesday, March 25th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Verve Therapeutics in a research report on Tuesday, March 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verve Therapeutics currently has an average rating of “Buy” and an average target price of $20.67.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV opened at $3.62 on Friday. The stock has a market cap of $321.44 million, a price-to-earnings ratio of -1.47 and a beta of 1.77. The business has a 50 day simple moving average of $6.61 and a 200 day simple moving average of $6.02. Verve Therapeutics, Inc. has a 52 week low of $3.46 and a 52 week high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company had revenue of $13.08 million for the quarter, compared to analyst estimates of $3.94 million. On average, analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS 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.