Verve Therapeutics (NASDAQ:VERV) Stock Price Up 7% - Still a Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s share price was up 7% during trading on Thursday . The company traded as high as $6.00 and last traded at $5.93. Approximately 316,308 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,303,195 shares. The stock had previously closed at $5.54.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price on shares of Verve Therapeutics in a research report on Monday, August 12th. Royal Bank of Canada cut their price target on Verve Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, Canaccord Genuity Group dropped their target price on Verve Therapeutics from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verve Therapeutics has a consensus rating of "Buy" and an average price target of $26.00.

Verve Therapeutics Trading Up 3.2 %

The company's 50-day simple moving average is $5.29 and its 200 day simple moving average is $5.80. The stock has a market cap of $484.03 million, a P/E ratio of -2.15 and a beta of 1.80.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.59) EPS for the quarter, topping analysts' consensus estimates of ($0.68) by $0.09. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The business had revenue of $6.70 million for the quarter, compared to analyst estimates of $2.40 million. During the same period last year, the company posted ($0.87) earnings per share. Verve Therapeutics's quarterly revenue was up 219.0% compared to the same quarter last year. Research analysts anticipate that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VERV. PFG Investments LLC bought a new stake in shares of Verve Therapeutics in the 3rd quarter worth approximately $53,000. Creative Planning bought a new stake in shares of Verve Therapeutics in the third quarter valued at $50,000. Green Alpha Advisors LLC lifted its position in shares of Verve Therapeutics by 31.7% during the 3rd quarter. Green Alpha Advisors LLC now owns 25,598 shares of the company's stock valued at $124,000 after buying an additional 6,165 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Verve Therapeutics during the 3rd quarter valued at $145,000. Finally, Novo Holdings A S increased its holdings in Verve Therapeutics by 20.0% in the 2nd quarter. Novo Holdings A S now owns 2,400,000 shares of the company's stock worth $11,712,000 after acquiring an additional 400,000 shares during the last quarter. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

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.