Verve Therapeutics (NASDAQ:VERV) Shares Up 4.8%

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) shot up 4.8% during trading on Thursday . The stock traded as high as $9.23 and last traded at $9.13. 151,634 shares changed hands during trading, a decline of 88% from the average session volume of 1,229,962 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

Several research firms recently commented on VERV. Stifel Nicolaus decreased their target price on Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

Verve Therapeutics Stock Down 0.3 %

The stock has a 50 day simple moving average of $13.17 and a 200 day simple moving average of $12.76. The stock has a market cap of $725.81 million, a price-to-earnings ratio of -2.84 and a beta of 1.70.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, beating analysts' consensus estimates of ($0.83) by $0.14. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The firm had revenue of $5.14 million during the quarter, compared to analysts' expectations of $3.95 million. Equities analysts expect that Verve Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC purchased a new position in shares of Verve Therapeutics during the first quarter valued at approximately $46,000. PNC Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics during the fourth quarter valued at approximately $29,000. Amundi bought a new stake in Verve Therapeutics during the fourth quarter worth $45,000. Newbridge Financial Services Group Inc. bought a new stake in Verve Therapeutics during the fourth quarter worth $30,000. Finally, Quest Partners LLC bought a new stake in Verve Therapeutics during the fourth quarter worth $34,000. Hedge funds and other 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.