Verve Therapeutics (NASDAQ:VERV) Trading Down 6.7% – Should You Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price fell 6.7% during mid-day trading on Wednesday . The company traded as low as $8.00 and last traded at $7.91. 607,308 shares changed hands during trading, a decline of 61% from the average session volume of 1,568,531 shares. The stock had previously closed at $8.48.

Analysts Set New Price Targets

VERV has been the subject of several analyst reports. HC Wainwright decreased their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. William Blair restated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Verve Therapeutics has a consensus rating of “Buy” and a consensus price target of $25.75.

Verve Therapeutics Stock Performance

The firm has a fifty day simple moving average of $6.80 and a 200-day simple moving average of $5.96. The firm has a market cap of $616.32 million, a price-to-earnings ratio of -2.96 and a beta of 1.74.

Institutional Trading of Verve Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of VERV. Public Employees Retirement System of Ohio raised its holdings in Verve Therapeutics by 81.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 106,356 shares of the company’s stock valued at $600,000 after acquiring an additional 47,656 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Verve Therapeutics by 4.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,818 shares of the company’s stock worth $676,000 after purchasing an additional 4,777 shares during the period. Vestal Point Capital LP lifted its holdings in Verve Therapeutics by 22.9% during the 4th quarter. Vestal Point Capital LP now owns 645,000 shares of the company’s stock worth $3,638,000 after purchasing an additional 120,000 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Verve Therapeutics by 58.8% in the 4th quarter. Two Sigma Advisers LP now owns 293,200 shares of the company’s stock valued at $1,654,000 after purchasing an additional 108,600 shares during the period. Finally, Two Sigma Investments LP grew its holdings in Verve Therapeutics by 32.5% in the 4th quarter. Two Sigma Investments LP now owns 570,304 shares of the company’s stock valued at $3,217,000 after buying an additional 140,030 shares in the last quarter. 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.