Verve Therapeutics (NASDAQ:VERV) Shares Down 10.7%

Verve Therapeutics, Inc. (NASDAQ:VERVGet Rating) shares dropped 10.7% on Thursday . The company traded as low as $10.96 and last traded at $10.98. Approximately 18,961 shares traded hands during trading, a decline of 97% from the average daily volume of 666,181 shares. The stock had previously closed at $12.29.

VERV has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on Verve Therapeutics from $58.00 to $34.00 in a report on Monday, March 14th. Royal Bank of Canada started coverage on shares of Verve Therapeutics in a research report on Thursday, February 17th. They issued an “outperform” rating and a $42.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $62.33.

The business’s 50 day simple moving average is $15.27 and its 200-day simple moving average is $25.03. The company has a market cap of $541.60 million and a price-to-earnings ratio of -1.31.

Verve Therapeutics (NASDAQ:VERVGet Rating) last issued its earnings results on Monday, March 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.11). Equities analysts predict that Verve Therapeutics, Inc. will post -2.62 earnings per share for the current year.

In other Verve Therapeutics news, Director Burt A. Adelman acquired 10,000 shares of Verve Therapeutics stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average price of $12.15 per share, with a total value of $121,500.00. Following the purchase, the director now owns 18,700 shares in the company, valued at $227,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds have recently added to or reduced their stakes in VERV. Morgan Stanley acquired a new stake in shares of Verve Therapeutics in the 2nd quarter valued at $149,000. Citigroup Inc. acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at $85,000. Geode Capital Management LLC lifted its stake in shares of Verve Therapeutics by 756.0% in the 3rd quarter. Geode Capital Management LLC now owns 274,804 shares of the company’s stock valued at $12,915,000 after purchasing an additional 242,702 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at $396,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at $295,000. 75.46% of the stock is owned by institutional investors and hedge funds.

Verve Therapeutics Company Profile (NASDAQ:VERV)

Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.

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