Verve Therapeutics (NASDAQ:VERV) Trading 8.6% Higher – Time to Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares traded up 8.6% during mid-day trading on Thursday . The stock traded as high as $6.01 and last traded at $5.96. 1,076,467 shares were traded during mid-day trading, a decline of 17% from the average session volume of 1,300,895 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

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

Verve Therapeutics Trading Up 0.7 %

The firm has a market capitalization of $519.81 million, a PE ratio of -2.50 and a beta of 1.68. The business has a 50-day moving average of $5.80 and a 200 day moving average of $5.75.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares during the period. Creative Planning bought a new position in Verve Therapeutics in the 3rd quarter valued at $50,000. PFG Investments LLC bought a new position in Verve Therapeutics in the 3rd quarter valued at $53,000. Erste Asset Management GmbH bought a new position in Verve Therapeutics in the 3rd quarter valued at $56,000. Finally, Aigen Investment Management LP bought a new position in Verve Therapeutics in the 3rd quarter valued at $74,000. Institutional investors own 97.11% of the company’s stock.

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.