Verve Therapeutics (NASDAQ:VERV) Stock Price Down 2.9%

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price was down 2.9% during mid-day trading on Wednesday . The stock traded as low as $6.88 and last traded at $6.93. Approximately 245,710 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,229,620 shares. The stock had previously closed at $7.14.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VERV shares. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Stifel Nicolaus decreased their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, HC Wainwright started coverage on shares of Verve Therapeutics in a research note on Monday, April 8th. They issued a “buy” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Trading Down 1.2 %

The stock has a market capitalization of $556.91 million, a P/E ratio of -2.13 and a beta of 1.70. The stock’s 50 day simple moving average is $12.40 and its 200 day simple moving average is $12.40.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.14. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. The firm had revenue of $5.14 million for the quarter, compared to the consensus estimate of $3.95 million. On average, sell-side analysts expect that Verve Therapeutics, Inc. will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VERV. State Street Corp lifted its position in shares of Verve Therapeutics by 362.6% in the 3rd quarter. State Street Corp now owns 2,799,834 shares of the company’s stock worth $96,174,000 after buying an additional 2,194,551 shares during the last quarter. Novo Holdings A S bought a new position in shares of Verve Therapeutics in the 4th quarter worth about $27,880,000. ARK Investment Management LLC lifted its position in shares of Verve Therapeutics by 35.1% in the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock worth $97,930,000 after buying an additional 1,824,549 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Verve Therapeutics by 57.2% in the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock worth $55,486,000 after buying an additional 1,448,003 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Verve Therapeutics by 56.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,658,812 shares of the company’s stock worth $125,680,000 after buying an additional 1,316,619 shares during the last quarter. 97.11% of the stock is currently owned by 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.