Verve Therapeutics (NASDAQ:VERV) Trading Down 6.2% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares dropped 6.2% on Tuesday . The company traded as low as $5.95 and last traded at $5.93. Approximately 58,369 shares changed hands during trading, a decline of 96% from the average daily volume of 1,413,684 shares. The stock had previously closed at $6.32.

Analyst Ratings Changes

VERV has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, HC Wainwright lifted their price objective on shares of Verve Therapeutics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verve Therapeutics has a consensus rating of “Buy” and an average target price of $25.50.

Verve Therapeutics Trading Up 2.1 %

The firm has a market cap of $523.01 million, a PE ratio of -2.39 and a beta of 1.77. The business’s 50-day simple moving average is $6.97 and its 200 day simple moving average is $6.10.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.14. The business had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock worth $34,000 after buying an additional 3,964 shares during the last quarter. IFP Advisors Inc grew its position in shares of Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after buying an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $50,000. Erste Asset Management GmbH purchased a new position in shares of Verve Therapeutics in the 3rd quarter worth approximately $56,000. Finally, Impact Partnership Wealth LLC purchased a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $70,000. Hedge funds and other 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.