Verve Therapeutics, Inc. (NASDAQ:VERV – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.52, but opened at $7.90. Verve Therapeutics shares last traded at $8.07, with a volume of 202,357 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Canaccord Genuity Group boosted their price target 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. HC Wainwright reduced their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price target 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.
View Our Latest Stock Report on VERV
Verve Therapeutics Stock Up 7.1 %
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.11. The business had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company’s revenue was up 120.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.72) earnings per share. As a group, analysts forecast 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 modified their holdings of VERV. State Street Corp grew its stake in shares of Verve Therapeutics by 27.0% in the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Verve Therapeutics by 72.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company’s stock worth $7,547,000 after buying an additional 653,578 shares during the last quarter. Braidwell LP purchased a new position in shares of Verve Therapeutics during the third quarter valued at approximately $3,020,000. Ikarian Capital LLC bought a new position in shares of Verve Therapeutics during the third quarter valued at approximately $823,000. Finally, Acuta Capital Partners LLC purchased a new stake in Verve Therapeutics in the third quarter worth $707,000. 97.11% of the stock is 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.
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