Verve Therapeutics (NASDAQ:VERV) Trading Up 5.5%

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price was up 5.5% during mid-day trading on Friday . The stock traded as high as $13.61 and last traded at $13.58. Approximately 319,141 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 666,624 shares. The stock had previously closed at $12.87.

Analyst Ratings Changes

Several research analysts have recently issued reports on VERV shares. Lifesci Capital restated an “outperform” rating on shares of Verve Therapeutics in a research report on Tuesday, August 8th. Credit Suisse Group reiterated a “neutral” rating and set a $31.00 target price on shares of Verve Therapeutics in a report on Friday, August 11th. Guggenheim reduced their target price on Verve Therapeutics from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $22.00 target price on shares of Verve Therapeutics in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.83.

Verve Therapeutics Price Performance

The company has a market capitalization of $857.05 million, a price-to-earnings ratio of -4.24 and a beta of 1.60. The firm has a 50-day moving average price of $17.72 and a two-hundred day moving average price of $17.18.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.87) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.03. The company had revenue of $2.10 million during the quarter, compared to analysts’ expectations of $0.67 million. Verve Therapeutics had a negative return on equity of 37.08% and a negative net margin of 3,534.98%. Verve Therapeutics’s quarterly revenue was up 2000.0% compared to the same quarter last year. On average, equities analysts predict that Verve Therapeutics, Inc. will post -3.5 EPS for the current year.

Institutional Trading of Verve Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Verve Therapeutics by 10.8% during the second quarter. California State Teachers Retirement System now owns 52,235 shares of the company’s stock worth $979,000 after acquiring an additional 5,085 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Verve Therapeutics by 9.4% during the second quarter. Nuveen Asset Management LLC now owns 175,904 shares of the company’s stock worth $3,298,000 after acquiring an additional 15,180 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Verve Therapeutics by 14.9% during the second quarter. Wells Fargo & Company MN now owns 60,471 shares of the company’s stock worth $1,134,000 after acquiring an additional 7,856 shares in the last quarter. Woodline Partners LP raised its holdings in Verve Therapeutics by 2.1% during the second quarter. Woodline Partners LP now owns 394,421 shares of the company’s stock worth $7,395,000 after acquiring an additional 7,955 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Verve Therapeutics during the second quarter worth about $212,000. Institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Company Profile

Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.