Federated Hermes Inc. Purchases 1,448,003 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Federated Hermes Inc. lifted its position in Verve Therapeutics, Inc. (NASDAQ:VERV) by 57.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,980,372 shares of the company’s stock after buying an additional 1,448,003 shares during the period. Federated Hermes Inc. owned about 6.24% of Verve Therapeutics worth $55,486,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VERV. Daiwa Securities Group Inc. boosted its position in shares of Verve Therapeutics by 35.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock valued at $94,000 after buying an additional 1,759 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Verve Therapeutics by 80.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,861 shares of the company’s stock valued at $179,000 after acquiring an additional 5,746 shares during the period. SVB Wealth LLC purchased a new stake in shares of Verve Therapeutics during the 4th quarter valued at about $170,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Verve Therapeutics by 11.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company’s stock worth $33,423,000 after acquiring an additional 250,361 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Verve Therapeutics during the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Verve Therapeutics in a research report on Wednesday, February 28th. HC Wainwright started coverage on Verve Therapeutics in a research report on Monday, April 8th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Verve Therapeutics Stock Down 0.3 %

Shares of Verve Therapeutics stock opened at $6.64 on Friday. The stock’s fifty day moving average is $12.28 and its 200 day moving average is $12.36. Verve Therapeutics, Inc. has a one year low of $6.42 and a one year high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.14. The firm had revenue of $5.14 million for 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%. On average, equities analysts expect that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current fiscal 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.