Verve Therapeutics (NASDAQ:VERV) Trading Down 5.7% – Should You Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price was down 5.7% during mid-day trading on Monday . The company traded as low as $6.95 and last traded at $7.18. Approximately 365,305 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,646,120 shares. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VERV shares. Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group upped their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, HC Wainwright lowered their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th.

Verve Therapeutics Trading Down 1.2 %

The stock has a market capitalization of $636.64 million, a P/E ratio of -3.06 and a beta of 1.74. The company has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $5.83.

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

Institutional Investors Weigh In On Verve Therapeutics

Several large investors have recently bought and sold shares of VERV. GAMMA Investing LLC lifted its holdings in shares of Verve Therapeutics by 189.7% in 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 bought a new stake in Verve Therapeutics in the 3rd quarter valued at approximately $50,000. PFG Investments LLC bought a new stake in Verve Therapeutics in the 3rd quarter valued at approximately $53,000. Erste Asset Management GmbH acquired a new position in Verve Therapeutics during the 3rd quarter worth approximately $56,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of 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.