Verve Therapeutics (NASDAQ:VERV) Trading Down 6.2% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price traded down 6.2% during mid-day trading on Tuesday . The stock traded as low as $5.95 and last traded at $5.93. 58,369 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,413,684 shares. The stock had previously closed at $6.32.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright raised their price target on Verve Therapeutics from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.50.

Verve Therapeutics Trading Down 5.6 %

The firm has a fifty day moving average of $6.98 and a 200 day moving average of $6.11. The company has a market capitalization of $530.02 million, a P/E ratio of -2.43 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The company had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. Sell-side analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

A number of large investors have recently made changes to their positions in VERV. GAMMA Investing LLC grew its stake in shares of Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares during the period. IFP Advisors Inc grew its stake in shares of Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after purchasing an additional 8,237 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Verve Therapeutics during the 4th quarter valued at about $50,000. Erste Asset Management GmbH bought a new stake in shares of Verve Therapeutics during the 3rd quarter valued at about $56,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Verve Therapeutics during the 4th quarter valued at about $70,000. 97.11% of the stock is currently owned by institutional investors.

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.