State Street Corp Has $20.59 Million Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

State Street Corp lifted its stake in Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) by 27.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,253,217 shares of the company's stock after acquiring an additional 903,809 shares during the period. State Street Corp owned approximately 5.02% of Verve Therapeutics worth $20,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VERV. Nisa Investment Advisors LLC increased its holdings in shares of Verve Therapeutics by 908.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company's stock worth $38,000 after purchasing an additional 6,949 shares during the period. Creative Planning bought a new position in Verve Therapeutics during the third quarter valued at about $50,000. PFG Investments LLC acquired a new position in Verve Therapeutics in the 3rd quarter valued at approximately $53,000. Erste Asset Management GmbH acquired a new position in Verve Therapeutics in the 3rd quarter valued at approximately $56,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Verve Therapeutics by 89.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company's stock worth $59,000 after acquiring an additional 5,723 shares during the period. Institutional investors own 97.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VERV. Canaccord Genuity Group upped their target price on Verve Therapeutics from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Finally, HC Wainwright decreased their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th.

Verve Therapeutics Stock Down 2.2 %

Verve Therapeutics stock traded down $0.13 during mid-day trading on Tuesday, hitting $5.77. 526,858 shares of the company were exchanged, compared to its average volume of 1,369,850. The company has a market capitalization of $488.51 million, a PE ratio of -2.35 and a beta of 1.71. The business has a fifty day moving average of $5.80 and a 200 day moving average of $5.67. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $19.34.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 807.65% and a negative return on equity of 35.23%. The firm's quarterly revenue was up 120.2% on a year-over-year basis. During the same period last year, the firm posted ($0.72) EPS. Research analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current 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.