Verve Therapeutics, Inc. (NASDAQ:VERV) Insider Andrew D. Ashe Acquires 76,000 Shares

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) insider Andrew D. Ashe bought 76,000 shares of the business's stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $6.26 per share, with a total value of $475,760.00. Following the completion of the purchase, the insider now owns 342,509 shares in the company, valued at approximately $2,144,106.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Verve Therapeutics Price Performance

NASDAQ VERV remained flat at $6.23 on Wednesday. The company's stock had a trading volume of 1,215,324 shares, compared to its average volume of 1,238,247. The company has a fifty day moving average price of $9.52 and a 200-day moving average price of $11.82. Verve Therapeutics, Inc. has a 12-month low of $5.84 and a 12-month high of $21.42. The stock has a market capitalization of $523.07 million, a P/E ratio of -2.28 and a beta of 1.94.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative return on equity of 37.35% and a negative net margin of 1,226.51%. The firm had revenue of $5.70 million for the quarter, compared to analysts' expectations of $2.11 million. The firm's revenue for the quarter was up 305.6% compared to the same quarter last year. Research analysts expect that Verve Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently bought and sold shares of the business. ARK Investment Management LLC raised its position 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 worth $97,930,000 after purchasing an additional 1,824,549 shares during the period. FMR LLC boosted its holdings in Verve Therapeutics by 8.8% in the third quarter. FMR LLC now owns 6,577,562 shares of the company's stock worth $87,218,000 after purchasing an additional 531,182 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Verve Therapeutics by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company's stock valued at $84,080,000 after acquiring an additional 859,382 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Verve Therapeutics by 57.2% in the fourth 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, Nikko Asset Management Americas Inc. boosted its stake in Verve Therapeutics by 8.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company's stock valued at $34,347,000 after buying an additional 194,594 shares in the last quarter. Institutional investors own 97.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VERV. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Verve Therapeutics in a research report on Thursday, May 9th. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price objective on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus reduced their price objective on Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Verve Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $33.00.

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.

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