Verve Therapeutics (NASDAQ:VERV) Shares Down 2.9%

Verve Therapeutics, Inc. (NASDAQ:VERV) shares were down 2.9% on Wednesday . The company traded as low as $6.88 and last traded at $6.93. 245,710 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,229,620 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

Several brokerages have recently weighed in on VERV. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a research report on Wednesday, February 28th. HC Wainwright began coverage on shares of Verve Therapeutics in a research report on Monday, April 8th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Price Performance

The company has a market capitalization of $575.31 million, a price-to-earnings ratio of -2.29 and a beta of 1.70. The business’s 50-day moving average price is $12.58 and its two-hundred day moving average price is $12.48.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The company had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $3.95 million. As a group, research analysts predict that Verve Therapeutics, Inc. will post -2.92 EPS for the current year.

Institutional Trading of Verve Therapeutics

Several large investors have recently made changes to their positions in the company. Credit Suisse AG raised its position in Verve Therapeutics by 3.4% during the second quarter. Credit Suisse AG now owns 12,533 shares of the company’s stock valued at $191,000 after purchasing an additional 412 shares in the last quarter. American International Group Inc. lifted its position in shares of Verve Therapeutics by 2.4% during the 4th quarter. American International Group Inc. now owns 22,119 shares of the company’s stock worth $428,000 after buying an additional 518 shares during the last quarter. Legal & General Group Plc boosted its stake in Verve Therapeutics by 4.5% in the fourth quarter. Legal & General Group Plc now owns 13,270 shares of the company’s stock valued at $257,000 after buying an additional 567 shares in the last quarter. Voya Investment Management LLC grew its position in Verve Therapeutics by 3.5% in the fourth quarter. Voya Investment Management LLC now owns 17,937 shares of the company’s stock valued at $347,000 after acquiring an additional 599 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Verve Therapeutics by 17.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,189 shares of the company’s stock worth $79,000 after acquiring an additional 622 shares in the last quarter. Institutional investors and hedge funds 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.