Verve Therapeutics (NASDAQ:VERV) Trading Down 11% – Here’s Why

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) fell 11% on Monday . The company traded as low as $6.40 and last traded at $5.97. 64,484 shares changed hands during trading, a decline of 96% from the average session volume of 1,520,709 shares. The stock had previously closed at $6.71.

Wall Street Analysts Forecast Growth

VERV has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. HC Wainwright lifted 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 reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Verve Therapeutics Stock Performance

The stock has a 50 day simple moving average of $6.95 and a two-hundred day simple moving average of $6.08. The firm has a market cap of $520.79 million, a PE ratio of -2.38 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The business had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million. Equities research analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Verve Therapeutics

A number of institutional investors have recently modified their holdings of the business. Creative Planning acquired a new position in Verve Therapeutics in the 3rd quarter worth about $50,000. US Bancorp DE grew its stake in Verve Therapeutics by 1,631.7% in the 3rd quarter. US Bancorp DE now owns 18,806 shares of the company’s stock valued at $91,000 after acquiring an additional 17,720 shares during the period. Los Angeles Capital Management LLC increased its holdings in Verve Therapeutics by 8.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 262,393 shares of the company’s stock worth $1,270,000 after acquiring an additional 19,925 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Verve Therapeutics in the 3rd quarter worth $74,000. Finally, Accredited Investors Inc. lifted its holdings in Verve Therapeutics by 14.3% during the third quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock valued at $97,000 after purchasing an additional 2,500 shares in the last quarter. 97.11% of the stock is currently 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.