ARK Investment Management LLC Grows Stake in Verve Therapeutics, Inc. (NASDAQ:VERV)

ARK Investment Management LLC grew its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 35.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,025,116 shares of the company’s stock after acquiring an additional 1,824,549 shares during the quarter. ARK Investment Management LLC owned about 11.02% of Verve Therapeutics worth $97,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Citigroup Inc. grew its stake in Verve Therapeutics by 34.8% during the 3rd quarter. Citigroup Inc. now owns 120,669 shares of the company’s stock worth $1,600,000 after buying an additional 31,126 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Verve Therapeutics by 14.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 319,800 shares of the company’s stock worth $4,241,000 after acquiring an additional 39,882 shares during the period. GSA Capital Partners LLP acquired a new stake in Verve Therapeutics during the 3rd quarter worth approximately $754,000. Swiss National Bank lifted its position in Verve Therapeutics by 8.8% during the 3rd quarter. Swiss National Bank now owns 95,300 shares of the company’s stock worth $1,264,000 after acquiring an additional 7,700 shares during the period. Finally, Barclays PLC lifted its position in Verve Therapeutics by 11.5% during the 2nd quarter. Barclays PLC now owns 121,320 shares of the company’s stock worth $2,275,000 after acquiring an additional 12,474 shares during the period. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Verve Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $34.40.

Verve Therapeutics Stock Up 3.1 %

Shares of VERV stock opened at $13.19 on Thursday. The stock has a fifty day moving average price of $13.25 and a 200 day moving average price of $12.82. Verve Therapeutics, Inc. has a 1 year low of $8.22 and a 1 year high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.14. The company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. As a group, equities analysts forecast that Verve Therapeutics, Inc. will post -3.04 earnings per share for the current 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.