Verve Therapeutics (NASDAQ:VERV) Shares Up 10.4% – Still a Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares traded up 10.4% during trading on Friday . The company traded as high as $8.54 and last traded at $8.51. 207,627 shares were traded during trading, a decline of 87% from the average session volume of 1,558,064 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VERV shares. Canaccord Genuity Group increased 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. HC Wainwright cut their target price 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. Finally, Royal Bank of Canada decreased their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th.

Verve Therapeutics Trading Up 9.8 %

The firm’s fifty day moving average price is $6.59 and its 200-day moving average price is $5.90. The company has a market cap of $716.48 million, a price-to-earnings ratio of -3.44 and a beta of 1.74.

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors have recently modified their holdings of VERV. State Street Corp raised its holdings in Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after buying an additional 903,809 shares during the period. Geode Capital Management LLC increased its position in shares of Verve Therapeutics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company’s stock worth $9,172,000 after acquiring an additional 25,093 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Verve Therapeutics by 72.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company’s stock worth $7,547,000 after acquiring an additional 653,578 shares during the period. FMR LLC lifted its position in Verve Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock valued at $6,868,000 after acquiring an additional 3,873 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in Verve Therapeutics by 14.5% in the 4th quarter. Trexquant Investment LP now owns 635,847 shares of the company’s stock worth $3,586,000 after purchasing an additional 80,345 shares during the period. Institutional investors 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.