Verve Therapeutics (NASDAQ:VERV) Trading Up 5.3% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price traded up 5.3% during mid-day trading on Monday . The company traded as high as $5.94 and last traded at $5.91. 105,151 shares were traded during trading, a decline of 92% from the average session volume of 1,330,898 shares. The stock had previously closed at $5.61.

Wall Street Analysts Forecast Growth

VERV has been the subject of several analyst reports. Royal Bank of Canada cut their target price 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. HC Wainwright reduced 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 note on Wednesday, November 6th. Finally, Canaccord Genuity Group increased their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Verve Therapeutics Price Performance

The firm’s 50-day moving average is $5.41 and its 200-day moving average is $5.59.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.87 million during the quarter, compared to the consensus estimate of $2.75 million. During the same quarter in the previous year, the company posted ($0.72) EPS. Verve Therapeutics’s quarterly revenue was up 120.2% compared to the same quarter last year. As a group, analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in Verve Therapeutics by 908.4% during the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after buying an additional 6,949 shares during the period. Creative Planning bought a new position in shares of Verve Therapeutics in the third quarter worth approximately $50,000. PFG Investments LLC bought a new stake in Verve Therapeutics in the 3rd quarter worth $53,000. Erste Asset Management GmbH purchased a new position in shares of Verve Therapeutics in the third quarter valued at about $56,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Verve Therapeutics by 89.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares during the last quarter. 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.