Verve Therapeutics (NASDAQ:VERV) Reaches New 52-Week Low at $6.05

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $6.05 and last traded at $6.22, with a volume of 247043 shares changing hands. The stock had previously closed at $6.58.

Analyst Ratings Changes

Several research firms have recently commented on VERV. HC Wainwright began coverage on shares of Verve Therapeutics in a report on Monday, April 8th. They issued a "buy" rating and a $15.00 price target for the company. Stifel Nicolaus reduced their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Verve Therapeutics Trading Down 5.5 %

The business's 50-day moving average price is $11.78 and its 200-day moving average price is $12.21. The stock has a market cap of $520.12 million, a PE ratio of -1.99 and a beta of 1.70.

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

Institutional Trading of Verve Therapeutics

Several large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Verve Therapeutics by 8.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company's stock valued at $34,424,000 after acquiring an additional 194,594 shares during the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of Verve Therapeutics by 11.5% in the 1st quarter. Green Alpha Advisors LLC now owns 24,940 shares of the company's stock valued at $331,000 after acquiring an additional 2,574 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics in the 4th quarter valued at $30,000. Nomura Holdings Inc. boosted its holdings in shares of Verve Therapeutics by 5.0% in the 4th quarter. Nomura Holdings Inc. now owns 19,076 shares of the company's stock valued at $266,000 after acquiring an additional 900 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics in the 4th quarter valued at $29,000. 97.11% of the stock is owned by hedge funds and other 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.