Shares of Verve Therapeutics, Inc. (NASDAQ:VERV – Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $6.05 and last traded at $6.22, with a volume of 247043 shares trading hands. The stock had previously closed at $6.58.
Wall Street Analyst Weigh In
Several research analysts have weighed in on VERV shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. HC Wainwright started coverage on Verve Therapeutics in a research note on Monday, April 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.
View Our Latest Research Report on VERV
Verve Therapeutics Price Performance
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.95 million. As a group, equities research analysts anticipate that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current year.
Institutional Trading of Verve Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in VERV. PNC Financial Services Group Inc. bought a new stake in shares of Verve Therapeutics during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. acquired a new stake in Verve Therapeutics during the fourth quarter valued at $30,000. Quest Partners LLC acquired a new stake in shares of Verve Therapeutics in the fourth quarter worth about $34,000. Daiwa Securities Group Inc. lifted its position in shares of Verve Therapeutics by 35.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock worth $94,000 after buying an additional 1,759 shares during the last quarter. Finally, PBCay One RSC Ltd acquired a new stake in shares of Verve Therapeutics in the fourth quarter worth about $96,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.
About Verve Therapeutics
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.
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