Verve Therapeutics (NASDAQ:VERV) Trading 5.2% Higher

Verve Therapeutics, Inc. (NASDAQ:VERV) was up 5.2% during trading on Tuesday . The stock traded as high as $7.59 and last traded at $7.55. Approximately 206,057 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,299,568 shares. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VERV shares. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a research note on Thursday, May 9th. Stifel Nicolaus lowered their price target on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Price Performance

The firm has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $9.19. The firm has a market cap of $628.02 million, a P/E ratio of -2.61 and a beta of 1.83.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.11. The firm had revenue of $5.70 million during the quarter, compared to analyst estimates of $2.11 million. Verve Therapeutics had a negative net margin of 1,226.51% and a negative return on equity of 37.35%. The business’s revenue for the quarter was up 305.6% on a year-over-year basis. On average, equities analysts predict that Verve Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Insider Buying and Selling at Verve Therapeutics

In other news, insider Andrew D. Ashe acquired 76,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average cost of $6.26 per share, with a total value of $475,760.00. Following the acquisition, the insider now owns 342,509 shares in the company, valued at approximately $2,144,106.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VERV. Accredited Investors Inc. lifted its stake in shares of Verve Therapeutics by 16.3% in the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after purchasing an additional 2,455 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock worth $38,000 after acquiring an additional 6,949 shares in the last quarter. GAMMA Investing LLC grew its position in Verve Therapeutics by 2,258.5% during the 2nd quarter. GAMMA Investing LLC now owns 17,123 shares of the company’s stock valued at $84,000 after purchasing an additional 16,397 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Verve Therapeutics during the first quarter valued at approximately $221,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Verve Therapeutics by 28.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,366 shares of the company’s stock worth $337,000 after purchasing an additional 5,600 shares in the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

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.