Vestal Point Capital LP Buys 25,000 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Vestal Point Capital LP increased its stake in Verve Therapeutics, Inc. (NASDAQ:VERV) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Vestal Point Capital LP’s holdings in Verve Therapeutics were worth $2,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 859,382 shares during the last quarter. Novo Holdings A S lifted its stake 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. Cubist Systematic Strategies LLC boosted its position in shares of Verve Therapeutics by 245.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 395,699 shares of the company’s stock worth $1,931,000 after purchasing an additional 281,173 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Verve Therapeutics by 138.1% during the second 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 during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Verve Therapeutics in the second quarter valued at about $1,183,000. 97.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VERV has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company 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 on the stock in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Verve Therapeutics Trading Up 8.9 %

Shares of VERV opened at $5.78 on Friday. The stock has a 50 day simple moving average of $5.36 and a 200 day simple moving average of $5.60. Verve Therapeutics, Inc. has a 52-week low of $4.30 and a 52-week high of $19.34.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. The company 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 firm’s revenue was up 120.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.72) earnings per share. As a group, equities research analysts anticipate that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

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.