Verve Therapeutics (NASDAQ:VERV) Shares Down 5.7% - What's Next?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s share price dropped 5.7% on Monday . The stock traded as low as $6.95 and last traded at $7.18. Approximately 365,305 shares traded hands during trading, a decline of 78% from the average daily volume of 1,646,120 shares. The stock had previously closed at $7.61.

Analyst Ratings Changes

A number of research firms have recently issued reports on VERV. Royal Bank of Canada dropped their price target on Verve Therapeutics from $20.00 to $17.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group upped their target price on Verve Therapeutics from $29.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, HC Wainwright reduced their price target on Verve Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th.

Verve Therapeutics Stock Down 3.1 %

The business has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $5.88. The company has a market cap of $707.76 million, a PE ratio of -3.40 and a beta of 1.74.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. The firm had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Verve Therapeutics's revenue was up 120.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS. As a group, equities research analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Institutional Trading of Verve Therapeutics

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in Verve Therapeutics by 139.8% during the 3rd quarter. Barclays PLC now owns 222,919 shares of the company's stock worth $1,079,000 after buying an additional 129,944 shares during the period. State Street Corp increased its position in shares of Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company's stock worth $20,586,000 after acquiring an additional 903,809 shares during the period. Braidwell LP acquired a new stake in shares of Verve Therapeutics in the third quarter valued at $3,020,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Verve Therapeutics by 28.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company's stock valued at $2,769,000 after buying an additional 126,110 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Verve Therapeutics by 465.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company's stock worth $241,000 after buying an additional 35,214 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company's stock.

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.