Verve Therapeutics (NASDAQ:VERV) Shares Gap Up to $8.32

Verve Therapeutics, Inc. (NASDAQ:VERVGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $8.32, but opened at $8.52. Verve Therapeutics shares last traded at $8.44, with a volume of 239,353 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on VERV shares. Stifel Nicolaus reduced their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Verve Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Get Our Latest Research Report on VERV

Verve Therapeutics Stock Performance

The firm has a market capitalization of $730.84 million, a price-to-earnings ratio of -2.85 and a beta of 1.70. The company’s fifty day moving average price is $13.23 and its 200 day moving average price is $12.79.

Verve Therapeutics (NASDAQ:VERVGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.14. The company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. As a group, sell-side analysts expect that Verve Therapeutics, Inc. will post -3.04 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in Verve Therapeutics during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. acquired a new stake in Verve Therapeutics in the fourth quarter worth about $30,000. Quest Partners LLC bought a new position in Verve Therapeutics in the 4th quarter valued at about $34,000. Amundi acquired a new position in Verve Therapeutics during the 4th quarter valued at about $45,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Verve Therapeutics during the 1st quarter worth about $46,000. 97.11% of the stock is currently owned by institutional investors.

About Verve Therapeutics

(Get Free Report)

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.

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