Investors Purchase Large Volume of Call Options on Verve Therapeutics (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 7,528 call options on the stock. This represents an increase of 2,795% compared to the typical volume of 260 call options.

Institutional Investors Weigh In On Verve Therapeutics

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Verve Therapeutics by 189.7% in the fourth 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 period. KFG Wealth Management LLC acquired a new position in Verve Therapeutics in the 1st quarter worth approximately $46,000. IFP Advisors Inc grew its position in Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock worth $47,000 after purchasing an additional 8,237 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Verve Therapeutics during the 4th quarter valued at $50,000. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at $70,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV traded up $0.08 during trading hours on Friday, hitting $4.59. 2,590,118 shares of the company's stock traded hands, compared to its average volume of 1,710,185. The company's fifty day simple moving average is $5.63 and its two-hundred day simple moving average is $5.92. The company has a market cap of $407.57 million, a price-to-earnings ratio of -1.87 and a beta of 1.86. Verve Therapeutics has a 52 week low of $2.86 and a 52 week high of $9.31.

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on Verve Therapeutics from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Royal Bank of Canada decreased their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. William Blair reissued an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Cantor Fitzgerald raised shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Tuesday, April 15th. Finally, HC Wainwright raised their price objective on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $25.75.

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.