Verve Therapeutics (NASDAQ:VERV) Trading Up 7.8%

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) shares were up 7.8% during mid-day trading on Friday . The stock traded as high as $7.00 and last traded at $6.63. Approximately 305,637 shares changed hands during trading, a decline of 75% from the average daily volume of 1,210,661 shares. The stock had previously closed at $6.15.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VERV shares. HC Wainwright initiated coverage on shares of Verve Therapeutics in a report on Monday, April 8th. They issued a "buy" rating and a $15.00 price objective for the company. 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 report on Wednesday, April 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Verve Therapeutics Price Performance

The stock has a 50 day simple moving average of $11.08 and a two-hundred day simple moving average of $12.00. The company has a market capitalization of $537.93 million, a price-to-earnings ratio of -2.22 and a beta of 1.94.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.14 million during the quarter, compared to analysts' expectations of $3.95 million. Equities research analysts predict that Verve Therapeutics, Inc. will post -2.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. grew its holdings in shares of Verve Therapeutics by 8.1% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,592,198 shares of the company's stock worth $34,347,000 after buying an additional 194,594 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Verve Therapeutics by 52.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,795 shares of the company's stock worth $2,449,000 after purchasing an additional 59,034 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Verve Therapeutics by 82.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,071 shares of the company's stock worth $213,000 after buying an additional 7,256 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted 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 buying an additional 194,594 shares during the period. Finally, Green Alpha Advisors LLC boosted its stake in shares of Verve Therapeutics by 11.5% in the first quarter. Green Alpha Advisors LLC now owns 24,940 shares of the company's stock valued at $331,000 after buying an additional 2,574 shares in the last quarter. 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.

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