Verve Therapeutics (NASDAQ:VERV) Trading Up 7% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price rose 7% on Thursday . The stock traded as high as $6.00 and last traded at $5.93. Approximately 316,308 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,303,195 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VERV shares. Royal Bank of Canada dropped their price objective on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a report on Monday, August 12th. Finally, Canaccord Genuity Group reduced their price objective on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verve Therapeutics has a consensus rating of “Buy” and an average price target of $26.00.

Verve Therapeutics Stock Performance

The stock has a market cap of $471.33 million, a PE ratio of -2.29 and a beta of 1.80. The company’s 50-day moving average price is $5.29 and its 200 day moving average price is $5.80.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The company had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $2.40 million. During the same quarter last year, the firm earned ($0.87) earnings per share. The firm’s quarterly revenue was up 219.0% compared to the same quarter last year. As a group, equities research analysts predict that Verve Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VERV. PNC Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics during the fourth quarter worth $29,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Verve Therapeutics by 8.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock valued at $34,424,000 after purchasing an additional 194,594 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Verve Therapeutics by 52.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,795 shares of the company’s stock valued at $2,449,000 after purchasing an additional 59,034 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Verve Therapeutics by 8.1% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company’s stock worth $34,347,000 after buying an additional 194,594 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Verve Therapeutics in the 1st quarter valued at approximately $191,000. 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.