ARK Investment Management LLC Has $97.93 Million Stock Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

ARK Investment Management LLC lifted its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 35.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,025,116 shares of the company’s stock after buying an additional 1,824,549 shares during the quarter. ARK Investment Management LLC owned about 0.11% of Verve Therapeutics worth $97,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of VERV. Penserra Capital Management LLC acquired a new position in Verve Therapeutics in the first quarter valued at about $46,000. Amundi acquired a new position in Verve Therapeutics in the fourth quarter valued at about $45,000. Ameritas Investment Partners Inc. raised its stake in 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 in the last quarter. Point72 Asset Management L.P. raised its stake in 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 in the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in Verve Therapeutics by 146.5% in the first quarter. Ensign Peak Advisors Inc now owns 4,610 shares of the company’s stock valued at $105,000 after purchasing an additional 2,740 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $13.19 on Thursday. The stock’s 50-day moving average is $13.25 and its 200-day moving average is $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 for the quarter, compared to analysts’ expectations of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. On average, research analysts forecast that Verve Therapeutics, Inc. will post -3.04 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.