Verve Therapeutics (NASDAQ:VERV) Shares Gap Up – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV) gapped up before the market opened on Monday . The stock had previously closed at $6.20, but opened at $6.45. Verve Therapeutics shares last traded at $6.10, with a volume of 485,207 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on VERV. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Canaccord Genuity Group lifted their target price on Verve Therapeutics from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Wall Street Zen upgraded Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Verve Therapeutics Trading Down 3.4%

The stock has a market capitalization of $533.79 million, a P/E ratio of -2.43 and a beta of 1.67. The stock has a 50 day moving average of $4.52 and a 200-day moving average of $5.77.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Research analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Institutional Investors Weigh In On Verve Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc raised its position in Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after purchasing an additional 8,237 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Verve Therapeutics during the 4th quarter valued at $50,000. KFG Wealth Management LLC bought a new stake in Verve Therapeutics during the 1st quarter valued at $46,000. Cambridge Investment Research Advisors Inc. bought a new stake in Verve Therapeutics during the 1st quarter valued at $47,000. Finally, E Fund Management Co. Ltd. bought a new stake in Verve Therapeutics during the 1st quarter valued at $48,000. 97.11% of the stock is owned by institutional investors.

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.