Verve Therapeutics (NASDAQ:VERV) Trading 7.8% Higher

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) traded up 7.8% on Friday . The company traded as high as $7.00 and last traded at $6.63. 305,637 shares changed hands during trading, a decline of 75% from the average session volume of 1,210,661 shares. The stock had previously closed at $6.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VERV shares. Stifel Nicolaus reduced their price objective on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. HC Wainwright began coverage on shares of Verve Therapeutics in a research note on Monday, April 8th. They set a “buy” rating and a $15.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Verve Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Verve Therapeutics Trading Up 4.2 %

The stock has a market capitalization of $537.93 million, a PE ratio of -2.05 and a beta of 1.94. The stock’s fifty day simple moving average is $10.94 and its 200-day simple moving average is $11.96.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.14. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. The business had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $3.95 million. As a group, analysts anticipate that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Verve Therapeutics in the third quarter worth $248,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Verve Therapeutics by 8.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,104 shares of the company’s stock valued at $2,812,000 after acquiring an additional 17,277 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Verve Therapeutics by 10.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,058 shares of the company’s stock worth $160,000 after acquiring an additional 1,174 shares during the period. Principal Financial Group Inc. raised its position in shares of Verve Therapeutics by 18.0% in the third quarter. Principal Financial Group Inc. now owns 16,847 shares of the company’s stock worth $223,000 after buying an additional 2,566 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Verve Therapeutics by 5.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,479 shares of the company’s stock valued at $219,000 after acquiring an additional 871 shares during the last quarter. Institutional investors 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.