Verve Therapeutics (NASDAQ:VERV) Stock Price Down 6.1% – Should You Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price traded down 6.1% during trading on Wednesday . The stock traded as low as $6.29 and last traded at $6.31. 164,218 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,354,358 shares. The stock had previously closed at $6.72.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VERV. Royal Bank of Canada reduced their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. HC Wainwright reduced their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group increased their price target on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Verve Therapeutics Trading Down 8.3 %

The firm’s 50 day simple moving average is $5.69 and its 200-day simple moving average is $5.65. The stock has a market capitalization of $483.41 million, a price-to-earnings ratio of -2.37 and a beta of 1.71.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. The firm had revenue of $6.87 million during the quarter, compared to the consensus estimate of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business’s revenue was up 120.2% compared to the same quarter last year. During the same period last year, the company earned ($0.72) earnings per share. As a group, equities research analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of Verve Therapeutics by 20.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,155 shares of the company’s stock worth $172,000 after purchasing an additional 5,914 shares during the last quarter. Barclays PLC increased its holdings in shares of Verve Therapeutics by 139.8% during the 3rd quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after acquiring an additional 129,944 shares during the last quarter. Geode Capital Management LLC raised its stake in Verve Therapeutics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,600,687 shares of the company’s stock valued at $7,749,000 after acquiring an additional 40,915 shares during the period. Public Employees Retirement System of Ohio boosted its position in Verve Therapeutics by 27.3% during the third quarter. Public Employees Retirement System of Ohio now owns 58,700 shares of the company’s stock worth $284,000 after purchasing an additional 12,600 shares during the period. Finally, XTX Topco Ltd bought a new position in Verve Therapeutics during the third quarter worth $500,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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.