Verve Therapeutics Sees Unusually Large Options Volume (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 51,590 put options on the stock. This represents an increase of 8,413% compared to the average volume of 606 put options.

Verve Therapeutics Stock Performance

VERV traded down $0.06 during trading on Friday, hitting $11.06. 7,719,335 shares of the stock were exchanged, compared to its average volume of 2,381,243. The firm has a 50 day simple moving average of $5.49 and a 200 day simple moving average of $5.93. The firm has a market cap of $985.89 million, a price-to-earnings ratio of -5.24 and a beta of 1.67. Verve Therapeutics has a 1 year low of $2.86 and a 1 year high of $11.41.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.36. The company had revenue of $32.98 million for the quarter, compared to the consensus estimate of $7.13 million. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. As a group, equities analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. KFG Wealth Management LLC acquired a new stake in shares of Verve Therapeutics in the 1st quarter worth $46,000. IFP Advisors Inc boosted its position in shares of Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock worth $47,000 after purchasing an additional 8,237 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Verve Therapeutics in the 1st quarter worth $47,000. E Fund Management Co. Ltd. acquired a new stake in shares of Verve Therapeutics in the 1st quarter worth $48,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Verve Therapeutics in the 4th quarter worth $50,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VERV shares. William Blair downgraded Verve Therapeutics from a "strong-buy" rating to a "market perform" rating in a report on Tuesday. HC Wainwright downgraded Verve Therapeutics from a "buy" rating to a "neutral" rating and set a $13.50 price target on the stock. in a report on Wednesday. Wall Street Zen upgraded Verve Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reduced their price target on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald upgraded Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $14.75.

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.