Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) saw unusually large options trading on Tuesday. Stock traders acquired 51,590 put options on the stock. This represents an increase of 8,413% compared to the average volume of 606 put options.
Hedge Funds Weigh In On Verve Therapeutics
Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Verve Therapeutics by 823,700.0% during the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock worth $47,000 after purchasing an additional 8,237 shares during the period. BNP Paribas Financial Markets purchased a new stake in Verve Therapeutics in the 4th quarter valued at $50,000. KFG Wealth Management LLC purchased a new stake in Verve Therapeutics in the 1st quarter valued at $46,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Verve Therapeutics in the 1st quarter valued at $47,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Verve Therapeutics in the 1st quarter valued at $48,000. 97.11% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on VERV. Guggenheim boosted their price target on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded Verve Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. William Blair reiterated a "market perform" rating on shares of Verve Therapeutics in a report on Tuesday. Royal Bank of Canada dropped their price target on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $13.00 price target (down from $39.00) on shares of Verve Therapeutics in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Verve Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $19.25.
Check Out Our Latest Stock Report on Verve Therapeutics
Verve Therapeutics Stock Up 78.9%
VERV traded up $4.95 during trading on Tuesday, hitting $11.22. The company's stock had a trading volume of 69,406,978 shares, compared to its average volume of 2,258,421. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $12.90. The stock's fifty day moving average price is $4.86 and its 200-day moving average price is $5.80. The firm has a market capitalization of $999.74 million, a P/E ratio of -4.56 and a beta of 1.67.
Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share 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 company had revenue of $32.98 million for the quarter, compared to analyst estimates of $7.13 million. Equities research analysts expect that Verve Therapeutics will post -2.49 EPS for the current fiscal year.
Verve Therapeutics Company Profile
(
Get Free Report)
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.
Further Reading
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