Palumbo Wealth Management LLC Invests $72,000 in Verve Therapeutics, Inc. (NASDAQ:VERV)

Palumbo Wealth Management LLC acquired a new stake in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,845 shares of the company’s stock, valued at approximately $72,000.

A number of other large investors also recently modified their holdings of the company. KFG Wealth Management LLC bought a new position in Verve Therapeutics during the first quarter valued at approximately $46,000. IFP Advisors Inc grew its holdings in shares of Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after purchasing an additional 8,237 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Verve Therapeutics in the 1st quarter worth $47,000. BNP Paribas Financial Markets bought a new stake in Verve Therapeutics in the fourth quarter worth $50,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Verve Therapeutics during the first quarter valued at about $83,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on VERV shares. Lifesci Capital downgraded Verve Therapeutics from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a report on Wednesday, June 18th. Royal Bank Of Canada decreased their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Canaccord Genuity Group lowered Verve Therapeutics from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $13.00 in a research note on Tuesday, June 17th. HC Wainwright cut shares of Verve Therapeutics from a “buy” rating to a “neutral” rating and set a $13.50 target price on the stock. in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.75.

Verve Therapeutics Stock Performance

VERV opened at $11.11 on Tuesday. The stock has a market capitalization of $990.35 million, a PE ratio of -5.27 and a beta of 1.67. The stock’s 50 day moving average price is $5.63 and its 200-day moving average price is $5.96. Verve Therapeutics, Inc. has a 52-week low of $2.86 and a 52-week high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The business had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Research analysts forecast that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Verve Therapeutics Company 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.