Verve Therapeutics (NASDAQ:VERV) Trading Down 5.7% – Time to Sell?

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) were down 5.7% during mid-day trading on Monday . The stock traded as low as $6.95 and last traded at $7.18. Approximately 365,305 shares changed hands during trading, a decline of 78% from the average daily volume of 1,646,120 shares. The stock had previously closed at $7.61.

Analysts Set New Price Targets

VERV has been the subject of several recent research reports. Canaccord Genuity Group boosted 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. Royal Bank of Canada decreased their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, HC Wainwright dropped their price target 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.

Verve Therapeutics Stock Performance

The stock has a market cap of $636.64 million, a price-to-earnings ratio of -3.06 and a beta of 1.74. The stock has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $5.83.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating 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 analysts’ expectations of $2.75 million. During the same period in the prior year, the company earned ($0.72) EPS. Verve Therapeutics’s revenue was up 120.2% compared to the same quarter last year. Equities analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares during the period. Creative Planning acquired a new position in Verve Therapeutics in the third quarter valued at approximately $50,000. PFG Investments LLC bought a new position in shares of Verve Therapeutics during the 3rd quarter worth approximately $53,000. Erste Asset Management GmbH acquired a new stake in shares of Verve Therapeutics during the 3rd quarter worth approximately $56,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Verve Therapeutics in the 4th quarter valued at $70,000. 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.