Verve Therapeutics (NASDAQ:VERV) Shares Down 6.2% - What's Next?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s share price fell 6.2% during mid-day trading on Tuesday . The stock traded as low as $5.95 and last traded at $5.93. 58,369 shares traded hands during trading, a decline of 96% from the average session volume of 1,413,684 shares. The stock had previously closed at $6.32.

Analyst Ratings Changes

Several research firms have issued reports on VERV. Royal Bank of Canada lowered their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. HC Wainwright raised their price target on shares of Verve Therapeutics from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, William Blair restated an "outperform" rating on shares of Verve Therapeutics in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $25.50.

Verve Therapeutics Trading Up 0.2 %

The company has a market cap of $492.82 million, a price-to-earnings ratio of -2.26 and a beta of 1.77. The firm's 50-day moving average price is $6.96 and its 200 day moving average price is $6.09.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. The company had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

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Institutional Trading of Verve Therapeutics

Several hedge funds have recently bought and sold shares of VERV. GAMMA Investing LLC grew its position in Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company's stock valued at $34,000 after purchasing an additional 3,964 shares during the period. IFP Advisors Inc grew its position in Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock valued at $47,000 after purchasing an additional 8,237 shares during the period. BNP Paribas Financial Markets purchased a new position in Verve Therapeutics during the 4th quarter worth $50,000. Erste Asset Management GmbH purchased a new position in Verve Therapeutics during the 3rd quarter worth $56,000. Finally, Impact Partnership Wealth LLC purchased a new position in Verve Therapeutics during the 4th quarter worth $70,000. 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.