Verve Therapeutics (NASDAQ:VERV) Trading Down 4.4%

Verve Therapeutics, Inc. (NASDAQ:VERVGet Free Report) shares dropped 4.4% during mid-day trading on Monday . The company traded as low as $12.68 and last traded at $12.70. Approximately 99,703 shares traded hands during trading, a decline of 91% from the average daily volume of 1,069,023 shares. The stock had previously closed at $13.28.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Verve Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $34.40.

View Our Latest Research Report on VERV

Verve Therapeutics Price Performance

The firm’s 50 day moving average price is $13.23 and its 200-day moving average price is $12.79.

Verve Therapeutics (NASDAQ:VERVGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping 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%. Research analysts expect that Verve Therapeutics, Inc. will post -3.04 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG raised its position in Verve Therapeutics by 3.4% in the second quarter. Credit Suisse AG now owns 12,533 shares of the company’s stock worth $191,000 after purchasing an additional 412 shares in the last quarter. American International Group Inc. grew its position in Verve Therapeutics by 2.4% in the fourth quarter. American International Group Inc. now owns 22,119 shares of the company’s stock valued at $428,000 after acquiring an additional 518 shares during the period. Legal & General Group Plc raised its stake in Verve Therapeutics by 4.5% during the fourth quarter. Legal & General Group Plc now owns 13,270 shares of the company’s stock worth $257,000 after acquiring an additional 567 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Verve Therapeutics by 3.5% during the fourth quarter. Voya Investment Management LLC now owns 17,937 shares of the company’s stock valued at $347,000 after acquiring an additional 599 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Verve Therapeutics by 17.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,189 shares of the company’s stock valued at $79,000 after acquiring an additional 622 shares during the period. 97.11% of the stock is 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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