Verve Therapeutics (NASDAQ:VERV) Stock Price Down 2.9%

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s stock price traded down 2.9% on Wednesday . The company traded as low as $6.88 and last traded at $6.93. 245,710 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,229,620 shares. The stock had previously closed at $7.14.

Analysts Set New Price Targets

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

Verve Therapeutics Stock Performance

The firm has a market capitalization of $563.60 million, a price-to-earnings ratio of -2.16 and a beta of 1.70. The company's fifty day moving average price is $12.50 and its 200 day moving average price is $12.44.

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

Institutional Investors Weigh In On Verve Therapeutics

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in shares of Verve Therapeutics during the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics in the 4th quarter valued at $30,000. Quest Partners LLC purchased a new position in Verve Therapeutics in the 4th quarter worth about $34,000. Amundi acquired a new stake in Verve Therapeutics during the 4th quarter worth about $45,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Verve Therapeutics in the first quarter worth about $46,000. Institutional investors and hedge funds own 97.11% of the company's stock.

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.