Fiduciary Trust Co Raises Holdings in Verve Therapeutics, Inc. (NASDAQ:VERV)

Fiduciary Trust Co lifted its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 400.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Fiduciary Trust Co owned 0.06% of Verve Therapeutics worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in Verve Therapeutics by 908.4% during the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock worth $38,000 after buying an additional 6,949 shares during the period. Creative Planning acquired a new stake in shares of Verve Therapeutics in the 3rd quarter worth approximately $50,000. PFG Investments LLC purchased a new position in Verve Therapeutics in the 3rd quarter valued at approximately $53,000. Daiwa Securities Group Inc. increased its stake in Verve Therapeutics by 89.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after purchasing an additional 5,723 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its position in Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after purchasing an additional 1,778 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Verve Therapeutics Stock Down 2.9 %

VERV opened at $5.61 on Monday. The business’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $5.59. Verve Therapeutics, Inc. has a 52 week low of $4.30 and a 52 week high of $19.34. The firm has a market cap of $474.94 million, a P/E ratio of -2.28 and a beta of 1.75.

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

Analyst Ratings Changes

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