Verve Therapeutics (NASDAQ:VERV) Stock Price Up 10.4% – Here’s What Happened

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price shot up 10.4% during mid-day trading on Friday . The stock traded as high as $8.54 and last traded at $8.51. 207,627 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,558,064 shares. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

VERV has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, HC Wainwright lowered their price target 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 Price Performance

The company has a market cap of $716.48 million, a P/E ratio of -3.44 and a beta of 1.74. The business’s 50 day moving average price is $6.59 and its 200-day moving average price is $5.90.

Institutional Trading of Verve Therapeutics

Several large investors have recently made changes to their positions in VERV. GAMMA Investing LLC lifted its position in Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock worth $34,000 after buying an additional 3,964 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after acquiring an additional 8,237 shares during the last quarter. Creative Planning acquired a new position in shares of Verve Therapeutics during the third quarter worth approximately $50,000. PFG Investments LLC bought a new stake in shares of Verve Therapeutics during the third quarter valued at approximately $53,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Verve Therapeutics in the third quarter valued at approximately $56,000. Institutional investors own 97.11% of the company’s stock.

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.