Verve Therapeutics (NASDAQ:VERV) Trading Down 6.2% – What’s Next?

Verve Therapeutics, Inc. (NASDAQ:VERV) shares dropped 6.2% on Tuesday . The company traded as low as $5.95 and last traded at $5.93. Approximately 58,369 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,413,684 shares. The stock had previously closed at $6.32.

Analyst Ratings Changes

VERV has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Finally, HC Wainwright raised their target price on shares of Verve Therapeutics from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $25.50.

Verve Therapeutics Stock Down 5.6 %

The business’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $6.11. The firm has a market capitalization of $530.02 million, a P/E ratio of -2.43 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The business had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million. Sell-side analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Verve Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,676 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Verve Therapeutics by 1.9% in the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after purchasing an additional 2,093 shares during the last quarter. Accredited Investors Inc. grew its holdings in shares of Verve Therapeutics by 14.3% in the third quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock worth $97,000 after purchasing an additional 2,500 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Verve Therapeutics by 15.8% in the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after purchasing an additional 2,669 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Verve Therapeutics by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock worth $313,000 after purchasing an additional 2,742 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors.

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.