Verve Therapeutics (NASDAQ:VERV) Trading Up 6.1% – Should You Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price shot up 6.1% on Wednesday . The stock traded as high as $6.85 and last traded at $6.97. Approximately 172,308 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,348,190 shares. The stock had previously closed at $6.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VERV. 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 research note on Wednesday, November 6th. Royal Bank of Canada cut their price target on shares of 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 objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th.

Verve Therapeutics Trading Down 1.0 %

The firm has a market cap of $669.75 million, a PE ratio of -3.22 and a beta of 1.68. The firm has a 50 day moving average price of $5.89 and a 200-day moving average price of $5.80.

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

Institutional Trading of Verve Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its position in shares of Verve Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after acquiring an additional 1,676 shares in the last quarter. Accredited Investors Inc. increased its stake in Verve Therapeutics by 14.3% in the third quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock valued at $97,000 after purchasing an additional 2,500 shares during the last quarter. Green Alpha Advisors LLC lifted its position in shares of Verve Therapeutics by 15.0% during the 4th quarter. Green Alpha Advisors LLC now owns 29,438 shares of the company’s stock worth $166,000 after buying an additional 3,840 shares during the last quarter. FMR LLC boosted its holdings in shares of Verve Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock valued at $6,868,000 after buying an additional 3,873 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after buying an additional 3,964 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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.