Verve Therapeutics (NASDAQ:VERV) Stock Price Up 5.6% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares rose 5.6% on Wednesday . The stock traded as high as $7.47 and last traded at $7.66. Approximately 41,799 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,718,185 shares. The stock had previously closed at $7.25.

Analysts Set New Price Targets

VERV has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their target price on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright dropped their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th.

Verve Therapeutics Price Performance

The firm’s 50 day moving average price is $6.07 and its 200-day moving average price is $5.83. The firm has a market cap of $644.52 million, a price-to-earnings ratio of -3.11 and a beta of 1.68.

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

Institutional Trading of Verve Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERV. GAMMA Investing LLC boosted its holdings in Verve Therapeutics by 189.7% during the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares in the last quarter. Creative Planning acquired a new stake in Verve Therapeutics in the 3rd quarter valued at about $50,000. PFG Investments LLC acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at $53,000. Erste Asset Management GmbH bought a new stake in Verve Therapeutics during the 3rd quarter worth about $56,000. Finally, Impact Partnership Wealth LLC acquired a new position in Verve Therapeutics in the fourth quarter valued at approximately $70,000. Institutional investors own 97.11% of the company’s stock.

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.