Federated Hermes Inc. Increases Stake in Verve Therapeutics, Inc. (NASDAQ:VERV)

Federated Hermes Inc. raised its holdings in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 57.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,980,372 shares of the company’s stock after buying an additional 1,448,003 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Verve Therapeutics worth $55,486,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Amundi purchased a new stake in Verve Therapeutics during the 4th quarter valued at about $45,000. Penserra Capital Management LLC purchased a new stake in shares of Verve Therapeutics in the first quarter valued at approximately $46,000. Point72 Asset Management L.P. increased its holdings in shares of Verve Therapeutics by 2,521.0% in the second quarter. Point72 Asset Management L.P. now owns 3,250 shares of the company’s stock valued at $61,000 after purchasing an additional 3,126 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Verve Therapeutics by 133.4% in the first quarter. Ameritas Investment Partners Inc. now owns 2,827 shares of the company’s stock valued at $65,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Verve Therapeutics by 35.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock worth $94,000 after buying an additional 1,759 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VERV has been the subject of a number of analyst reports. HC Wainwright initiated coverage on shares of Verve Therapeutics in a report on Monday, April 8th. They issued a “buy” rating and a $15.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus cut their price objective on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Verve Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Stock Performance

Shares of NASDAQ VERV opened at $6.64 on Friday. The stock’s 50-day moving average is $12.28 and its two-hundred day moving average is $12.36. Verve Therapeutics, Inc. has a 1-year low of $6.42 and a 1-year high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. The business 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%. Sell-side analysts expect that Verve Therapeutics, Inc. will post -2.92 EPS for the current fiscal year.

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.