Verve Therapeutics (NASDAQ:VERV) Trading Up 5.3% – Still a Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV) was up 5.3% on Monday . The stock traded as high as $5.94 and last traded at $5.91. Approximately 105,151 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,330,898 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HC Wainwright dropped their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th.

Verve Therapeutics Stock Up 13.9 %

The business’s 50-day moving average is $5.37 and its 200-day moving average is $5.59. The company has a market capitalization of $541.00 million, a price-to-earnings ratio of -2.46 and a beta of 1.75.

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

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in shares of Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after buying an additional 6,949 shares in the last quarter. Creative Planning purchased a new position in shares of Verve Therapeutics in the third quarter worth about $50,000. PFG Investments LLC purchased a new stake in Verve Therapeutics in the 3rd quarter valued at $53,000. Erste Asset Management GmbH purchased a new stake in shares of Verve Therapeutics during the 3rd quarter valued at approximately $56,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Verve Therapeutics by 89.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares during 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.