Bellevue Group AG Sells 9,800 Shares of Verve Therapeutics, Inc. (NASDAQ:VERV)

Bellevue Group AG lowered its position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) by 25.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,200 shares of the company’s stock after selling 9,800 shares during the period. Bellevue Group AG’s holdings in Verve Therapeutics were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Holdings Inc. lifted its position in Verve Therapeutics by 5.0% during the fourth quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. lifted its stake 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 purchasing an additional 1,759 shares during the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of Verve Therapeutics by 13.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 16,378 shares of the company’s stock valued at $228,000 after purchasing an additional 1,981 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Verve Therapeutics in the 4th quarter valued at $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics during the 4th quarter worth $30,000. 97.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verve Therapeutics

In other news, insider Andrew D. Ashe purchased 76,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $6.26 per share, with a total value of $475,760.00. Following the completion of the transaction, the insider now owns 342,509 shares of the company’s stock, valued at approximately $2,144,106.34. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.30% of the company’s stock.

Verve Therapeutics Stock Down 6.2 %

Shares of VERV stock traded down $0.46 during trading hours on Monday, hitting $6.94. 521,222 shares of the company’s stock traded hands, compared to its average volume of 1,294,544. The stock has a market cap of $582.68 million, a PE ratio of -2.43 and a beta of 1.83. The stock’s 50 day simple moving average is $5.76 and its 200 day simple moving average is $9.07. Verve Therapeutics, Inc. has a 12 month low of $4.59 and a 12 month high of $20.58.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. The firm had revenue of $5.70 million for the quarter, compared to analyst estimates of $2.11 million. Verve Therapeutics had a negative return on equity of 37.35% and a negative net margin of 1,226.51%. The company’s revenue for the quarter was up 305.6% compared to the same quarter last year. As a group, equities research analysts expect that Verve Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus decreased their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Verve Therapeutics in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.