Redmile Group LLC Has $7.43 Million Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Redmile Group LLC lowered its holdings in Verve Therapeutics, Inc. (NASDAQ:VERV) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,318,164 shares of the company’s stock after selling 65,202 shares during the quarter. Redmile Group LLC owned about 1.56% of Verve Therapeutics worth $7,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VERV. GAMMA Investing LLC lifted its stake in Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after acquiring an additional 3,964 shares in the last quarter. IFP Advisors Inc increased its stake in Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after buying an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $50,000. Impact Partnership Wealth LLC purchased a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $70,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Verve Therapeutics during the fourth quarter valued at approximately $101,000. 97.11% of the stock is owned by institutional investors.

Verve Therapeutics Price Performance

VERV opened at $4.31 on Thursday. The stock’s 50 day simple moving average is $4.85 and its 200 day simple moving average is $5.88. The firm has a market cap of $384.21 million, a price-to-earnings ratio of -1.75 and a beta of 1.82. Verve Therapeutics, Inc. has a 1 year low of $2.86 and a 1 year high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. As a group, sell-side analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Canaccord Genuity Group upped their price objective on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 15th. Royal Bank of Canada lowered their target price 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.