Acuta Capital Partners LLC Takes Position in Verve Therapeutics, Inc. (NASDAQ:VERV)

Acuta Capital Partners LLC acquired a new position in shares of Verve Therapeutics, Inc. (NASDAQ:VERV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 146,100 shares of the company’s stock, valued at approximately $707,000. Verve Therapeutics accounts for about 0.6% of Acuta Capital Partners LLC’s holdings, making the stock its 29th largest holding. Acuta Capital Partners LLC owned 0.17% of Verve Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VERV. Cornercap Investment Counsel Inc. boosted its holdings in Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after acquiring an additional 1,778 shares during the period. Arizona State Retirement System boosted its stake in Verve Therapeutics by 14.1% during the 2nd quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock valued at $80,000 after purchasing an additional 2,019 shares during the period. Accredited Investors Inc. grew its holdings in Verve Therapeutics by 16.3% in the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after buying an additional 2,455 shares during the last quarter. FMR LLC increased its position in Verve Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock worth $6,868,000 after buying an additional 3,873 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Verve Therapeutics by 20.4% in the second quarter. The Manufacturers Life Insurance Company now owns 28,105 shares of the company’s stock valued at $137,000 after acquiring an additional 4,759 shares during the period. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Verve Therapeutics Trading Up 8.9 %

Shares of NASDAQ VERV opened at $5.78 on Thursday. Verve Therapeutics, Inc. has a 1-year low of $4.30 and a 1-year high of $19.34. The company has a 50-day moving average of $5.35 and a two-hundred day moving average of $5.60. The company has a market cap of $489.33 million, a PE ratio of -2.36 and a beta of 1.75.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. The firm had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business’s revenue for the quarter was up 120.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.72) EPS. As a group, equities research analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group upped their price target on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright lowered their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

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.