Verve Therapeutics (NASDAQ:VERV) Trading Down 6.7% - Time to Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s share price dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as $8.00 and last traded at $7.91. Approximately 607,308 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 1,568,531 shares. The stock had previously closed at $8.48.

Wall Street Analyst Weigh In

VERV has been the subject of several recent analyst reports. William Blair restated an "outperform" rating on shares of Verve Therapeutics in a report on Friday. HC Wainwright lowered their price target on Verve Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on Verve Therapeutics from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price objective on Verve Therapeutics from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $25.75.

Verve Therapeutics Stock Down 7.0 %

The firm has a market capitalization of $616.32 million, a P/E ratio of -2.96 and a beta of 1.74. The stock has a fifty day moving average of $6.80 and a 200-day moving average of $5.96.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Barclays PLC boosted its position in Verve Therapeutics by 139.8% during the third quarter. Barclays PLC now owns 222,919 shares of the company's stock valued at $1,079,000 after purchasing an additional 129,944 shares during the last quarter. State Street Corp boosted its position in Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company's stock valued at $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Braidwell LP acquired a new position in Verve Therapeutics during the third quarter valued at approximately $3,020,000. Charles Schwab Investment Management Inc. boosted its position in Verve Therapeutics by 28.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company's stock valued at $2,769,000 after purchasing an additional 126,110 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Verve Therapeutics by 465.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company's stock valued at $241,000 after purchasing an additional 35,214 shares during the last quarter. 97.11% of the stock is 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.