Verve Therapeutics (NASDAQ:VERV) Trading Down 5.7% – Should You Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares traded down 5.7% during trading on Monday . The company traded as low as $6.95 and last traded at $7.18. 365,305 shares were traded during trading, a decline of 78% from the average session volume of 1,646,120 shares. The stock had previously closed at $7.61.

Wall Street Analyst Weigh In

Several brokerages have commented on VERV. Canaccord Genuity Group upped their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, HC Wainwright reduced their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th.

Verve Therapeutics Price Performance

The company has a market cap of $730.62 million, a price-to-earnings ratio of -3.51 and a beta of 1.74. The stock has a 50-day moving average price of $6.34 and a 200 day moving average price of $5.84.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VERV. GAMMA Investing LLC raised its position 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 buying an additional 3,964 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after purchasing an additional 8,237 shares in the last quarter. Creative Planning bought a new stake in shares of Verve Therapeutics in the third quarter worth $50,000. PFG Investments LLC bought a new position in Verve Therapeutics in the third quarter valued at $53,000. Finally, Erste Asset Management GmbH bought a new position in Verve Therapeutics in the third quarter valued at $56,000. 97.11% of the stock is owned by institutional investors and hedge funds.

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.