Verve Therapeutics (NASDAQ:VERV) Shares Gap Up - What's Next?

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $6.20, but opened at $6.45. Verve Therapeutics shares last traded at $6.10, with a volume of 485,207 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on VERV shares. Guggenheim boosted their price target on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Royal Bank of Canada decreased their price target on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. HC Wainwright upped their price objective on Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Cantor Fitzgerald upgraded Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Verve Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Verve Therapeutics Price Performance

The business has a 50-day simple moving average of $4.52 and a 200 day simple moving average of $5.77. The firm has a market cap of $533.79 million, a PE ratio of -2.43 and a beta of 1.67.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $32.98 million during the quarter, compared to analysts' expectations of $7.13 million. On average, equities analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Institutional Trading of Verve Therapeutics

Several institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its position in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock worth $627,000 after purchasing an additional 2,093 shares in the last quarter. Arizona State Retirement System grew its holdings in Verve Therapeutics by 15.8% during the 4th quarter. Arizona State Retirement System now owns 19,593 shares of the company's stock valued at $111,000 after buying an additional 2,669 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Verve Therapeutics by 11.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,690 shares of the company's stock valued at $122,000 after buying an additional 2,690 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Verve Therapeutics by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company's stock valued at $313,000 after buying an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Verve Therapeutics by 5.7% during the 4th quarter. Invesco Ltd. now owns 57,140 shares of the company's stock valued at $322,000 after buying an additional 3,080 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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