Norges Bank Purchases New Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Norges Bank purchased a new stake in Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 78,186 shares of the company's stock, valued at approximately $441,000. Norges Bank owned 0.09% of Verve Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company's stock worth $20,586,000 after acquiring an additional 903,809 shares during the period. Barclays PLC raised its position in shares of Verve Therapeutics by 139.8% during the 3rd quarter. Barclays PLC now owns 222,919 shares of the company's stock worth $1,079,000 after buying an additional 129,944 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verve Therapeutics by 28.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company's stock valued at $2,769,000 after acquiring an additional 126,110 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Verve Therapeutics during the third quarter valued at approximately $500,000. Finally, Geode Capital Management LLC raised its holdings in Verve Therapeutics by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,600,687 shares of the company's stock worth $7,749,000 after purchasing an additional 40,915 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Verve Therapeutics Stock Performance

NASDAQ:VERV traded up $0.06 during trading hours on Thursday, hitting $4.57. 1,092,772 shares of the company's stock traded hands, compared to its average volume of 2,388,885. Verve Therapeutics, Inc. has a twelve month low of $2.86 and a twelve month high of $9.31. The firm has a market cap of $405.98 million, a P/E ratio of -1.86 and a beta of 1.86. The stock's fifty day moving average price is $5.76 and its two-hundred day moving average price is $5.91.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. On average, equities research analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VERV. Guggenheim raised their target price on Verve Therapeutics from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a report on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of Verve Therapeutics from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday. 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. Finally, HC Wainwright lifted their price target on Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics presently has an average rating of "Buy" and an average price target of $25.75.

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.