Point72 DIFC Ltd Buys Shares of 17,143 Verve Therapeutics, Inc. (NASDAQ:VERV)

Point72 DIFC Ltd bought a new position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 17,143 shares of the company’s stock, valued at approximately $83,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VERV. Price T Rowe Associates Inc. MD grew its holdings in Verve Therapeutics by 28.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,366 shares of the company’s stock valued at $337,000 after purchasing an additional 5,600 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Verve Therapeutics by 908.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after buying an additional 6,949 shares during the period. Accredited Investors Inc. increased its position in shares of Verve Therapeutics by 16.3% in the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after buying an additional 2,455 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 worth $1,341,000 after buying an additional 49,922 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Verve Therapeutics by 12.2% during the second quarter. Rhumbline Advisers now owns 112,446 shares of the company’s stock worth $549,000 after acquiring an additional 12,199 shares in the last quarter. 97.11% of the stock is owned by institutional investors.

Verve Therapeutics Price Performance

VERV stock opened at $6.47 on Monday. The stock has a market capitalization of $547.75 million, a P/E ratio of -2.63 and a beta of 1.71. Verve Therapeutics, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $19.34. The business has a 50-day moving average of $5.55 and a 200-day moving average of $5.61.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly 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 firm had revenue of $6.87 million during 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 business’s revenue was up 120.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.72) EPS. Equities analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on VERV. HC Wainwright lowered their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group raised their target price 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 reduced their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th.

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.