Verve Therapeutics (NASDAQ:VERV) Trading 10.4% Higher – Should You Buy?

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) traded up 10.4% on Friday . The stock traded as high as $8.54 and last traded at $8.51. 207,627 shares were traded during trading, a decline of 87% from the average session volume of 1,558,064 shares. The stock had previously closed at $7.71.

Wall Street Analysts Forecast Growth

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

Verve Therapeutics Stock Performance

The company has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $5.90.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC lifted its stake 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 acquiring an additional 1,382,176 shares during the period. State Street Corp lifted its position in Verve Therapeutics by 27.0% during the third 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 period. Jacobs Levy Equity Management Inc. boosted its holdings in Verve Therapeutics by 72.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company’s stock valued at $7,547,000 after purchasing an additional 653,578 shares during the last quarter. Braidwell LP acquired a new stake in Verve Therapeutics during the 3rd quarter worth about $3,020,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Verve Therapeutics during the 4th quarter valued at about $1,643,000. Institutional investors and hedge funds 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.