Verve Therapeutics (NASDAQ:VERV) Hits New 52-Week Low at $5.93

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $5.93 and last traded at $6.13, with a volume of 62461 shares trading hands. The stock had previously closed at $6.01.

Analysts Set New Price Targets

A number of research analysts have weighed in on VERV shares. 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. HC Wainwright started coverage on shares of Verve Therapeutics in a research note on Monday, April 8th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Verve Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Verve Therapeutics Trading Down 0.2 %

The stock's fifty day moving average is $11.36 and its two-hundred day moving average is $12.08. The firm has a market cap of $503.52 million, a P/E ratio of -1.92 and a beta of 1.70.

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

Institutional Trading of Verve Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of VERV. ARK Investment Management LLC increased its holdings in Verve Therapeutics by 35.1% during the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company's stock worth $97,930,000 after acquiring an additional 1,824,549 shares during the period. Federated Hermes Inc. increased its holdings in shares of Verve Therapeutics by 57.2% in the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company's stock worth $55,486,000 after buying an additional 1,448,003 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Verve Therapeutics by 18.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company's stock worth $64,085,000 after buying an additional 741,753 shares during the last quarter. FMR LLC increased its holdings in shares of Verve Therapeutics by 8.8% in the 3rd quarter. FMR LLC now owns 6,577,562 shares of the company's stock worth $87,218,000 after buying an additional 531,182 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Verve Therapeutics by 11.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company's stock worth $33,423,000 after buying an additional 250,361 shares during 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.