Verve Therapeutics (NASDAQ:VERV) Shares Up 6.2% - Should You Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) rose 6.2% during trading on Friday . The stock traded as high as $6.40 and last traded at $6.38. Approximately 98,868 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 565,341 shares. The stock had previously closed at $6.01.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. HC Wainwright decreased their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Finally, 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 report on Wednesday, November 6th.

Verve Therapeutics Stock Performance

The firm has a fifty day moving average price of $5.84 and a 200 day moving average price of $5.69. The company has a market cap of $528.30 million, a price-to-earnings ratio of -2.54 and a beta of 1.71.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.11. The firm had revenue of $6.87 million during the quarter, compared to analysts' expectations of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company's revenue for the quarter was up 120.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.72) earnings per share. On average, analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

A number of institutional investors have recently bought and sold shares of VERV. Cornercap Investment Counsel Inc. increased its holdings in shares of Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company's stock worth $73,000 after acquiring an additional 1,778 shares during the last quarter. Arizona State Retirement System boosted its position in Verve Therapeutics by 14.1% during the second quarter. Arizona State Retirement System now owns 16,386 shares of the company's stock worth $80,000 after purchasing an additional 2,019 shares during the period. Accredited Investors Inc. increased its holdings in shares of 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. FMR LLC raised its position in shares of Verve Therapeutics by 0.3% in the third quarter. FMR LLC now owns 1,418,993 shares of the company's stock valued at $6,868,000 after purchasing an additional 3,873 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Verve Therapeutics by 189.7% during the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company's stock worth $34,000 after buying an additional 3,964 shares during 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.