Verve Therapeutics (NASDAQ:VERV) Stock Price Down 11% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price traded down 11% during trading on Monday . The company traded as low as $6.40 and last traded at $5.97. 64,484 shares were traded during trading, a decline of 96% from the average session volume of 1,520,709 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

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

Verve Therapeutics Stock Down 12.6 %

The company’s 50 day moving average price is $6.95 and its two-hundred day moving average price is $6.08. The firm has a market cap of $520.79 million, a PE ratio of -2.38 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. The business had revenue of $13.08 million for the quarter, compared to analyst estimates of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. On average, analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Verve Therapeutics by 81.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 106,356 shares of the company’s stock valued at $600,000 after buying an additional 47,656 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Verve Therapeutics by 4.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,818 shares of the company’s stock valued at $676,000 after purchasing an additional 4,777 shares during the period. Vestal Point Capital LP raised its holdings in shares of Verve Therapeutics by 22.9% in the 4th quarter. Vestal Point Capital LP now owns 645,000 shares of the company’s stock valued at $3,638,000 after purchasing an additional 120,000 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Verve Therapeutics by 58.8% in the 4th quarter. Two Sigma Advisers LP now owns 293,200 shares of the company’s stock worth $1,654,000 after purchasing an additional 108,600 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Verve Therapeutics by 32.5% during the fourth quarter. Two Sigma Investments LP now owns 570,304 shares of the company’s stock valued at $3,217,000 after purchasing an additional 140,030 shares in the last quarter. 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.