Verve Therapeutics (NASDAQ:VERV) Sets New 52-Week Low at $7.26

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $7.26 and last traded at $7.35, with a volume of 327045 shares trading hands. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VERV shares. Stifel Nicolaus lowered their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd. 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 on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.00.

Verve Therapeutics Stock Performance

The company's 50-day moving average price is $12.74 and its two-hundred day moving average price is $12.56. The stock has a market cap of $611.26 million, a PE ratio of -2.31 and a beta of 1.70.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.14. The firm had revenue of $5.14 million for the quarter, compared to analysts' expectations of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. Equities research analysts forecast that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Trading of Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VERV. ARK Investment Management LLC grew its holdings in shares of Verve Therapeutics by 35.1% during the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company's stock valued at $97,930,000 after purchasing an additional 1,824,549 shares during the last quarter. FMR LLC grew its holdings in shares of Verve Therapeutics by 8.8% during the 3rd quarter. FMR LLC now owns 6,577,562 shares of the company's stock valued at $87,218,000 after purchasing an additional 531,182 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Verve Therapeutics by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 5,471,930 shares of the company's stock valued at $76,279,000 after purchasing an additional 638,962 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Verve Therapeutics by 57.2% during the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company's stock valued at $55,486,000 after purchasing an additional 1,448,003 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Verve Therapeutics by 8.5% during the 2nd quarter. BlackRock Inc. now owns 3,846,703 shares of the company's stock valued at $72,126,000 after purchasing an additional 300,218 shares during the last quarter. 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.