Verve Therapeutics (NASDAQ:VERV) Trading 8.6% Higher – Time to Buy?

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) traded up 8.6% on Thursday . The stock traded as high as $6.01 and last traded at $5.96. 1,076,467 shares traded hands during trading, a decline of 17% from the average session volume of 1,300,895 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group increased their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright dropped their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th.

Verve Therapeutics Trading Up 0.7 %

The firm has a fifty day simple moving average of $5.80 and a two-hundred day simple moving average of $5.75. The stock has a market cap of $519.81 million, a PE ratio of -2.50 and a beta of 1.68.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.75 million. During the same period last year, the company earned ($0.72) EPS. Verve Therapeutics’s revenue for the quarter was up 120.2% compared to the same quarter last year. Equities analysts forecast that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Verve Therapeutics

A number of large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of Verve Therapeutics by 465.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock worth $241,000 after buying an additional 35,214 shares during the last quarter. Green Alpha Advisors LLC grew its position in shares of Verve Therapeutics by 15.0% in the 4th quarter. Green Alpha Advisors LLC now owns 29,438 shares of the company’s stock worth $166,000 after buying an additional 3,840 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock worth $34,000 after buying an additional 3,964 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Verve Therapeutics by 20.9% in the 3rd quarter. Franklin Resources Inc. now owns 34,155 shares of the company’s stock worth $172,000 after buying an additional 5,914 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Verve Therapeutics by 139.8% in the 3rd quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after buying an additional 129,944 shares during the last quarter. 97.11% of the stock is currently owned by 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.