Verve Therapeutics (NASDAQ:VERV) Stock Price Down 11% – Here’s What Happened

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price fell 11% during mid-day trading on Monday . The company traded as low as $6.40 and last traded at $5.97. 64,484 shares changed hands during trading, a decline of 96% from the average session volume of 1,520,709 shares. The stock had previously closed at $6.71.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VERV. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, HC Wainwright boosted their target price on shares of Verve Therapeutics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verve Therapeutics currently has a consensus rating of “Buy” and an average price target of $25.50.

Verve Therapeutics Trading Up 3.5 %

The stock has a market cap of $546.98 million, a P/E ratio of -2.50 and a beta of 1.77. The stock’s fifty day moving average price is $6.97 and its 200 day moving average price is $6.09.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. As a group, sell-side analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Several institutional investors have recently bought and sold shares of the company. BVF Inc. IL grew its position in Verve Therapeutics by 962.2% during the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock valued at $38,939,000 after purchasing an additional 6,254,050 shares during the last quarter. State Street Corp grew its position in Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in Verve Therapeutics by 57.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock valued at $21,372,000 after purchasing an additional 1,382,176 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Verve Therapeutics by 18.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock valued at $10,423,000 after acquiring an additional 288,678 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Verve Therapeutics by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company’s stock valued at $9,172,000 after acquiring an additional 25,093 shares during the last quarter. 97.11% of the stock is owned by hedge funds and other institutional investors.

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.