Verve Therapeutics (NASDAQ:VERV) Hits New 12-Month Low at $6.05

Verve Therapeutics, Inc. (NASDAQ:VERV) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.05 and last traded at $6.22, with a volume of 247043 shares traded. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VERV. HC Wainwright began coverage on shares of Verve Therapeutics in a research note on Monday, April 8th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus dropped their price objective on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Verve Therapeutics Trading Down 1.0 %

The firm has a fifty day simple moving average of $11.64 and a 200-day simple moving average of $12.16.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.14. The firm had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. As a group, equities analysts anticipate that Verve Therapeutics, Inc. will post -2.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Several large investors have recently modified their holdings of the stock. ARK Investment Management LLC raised its stake in Verve Therapeutics by 35.1% during the fourth quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock valued at $97,930,000 after buying an additional 1,824,549 shares in the last quarter. FMR LLC increased its holdings in shares of Verve Therapeutics by 8.8% in the 3rd quarter. FMR LLC now owns 6,577,562 shares of the company’s stock valued at $87,218,000 after acquiring an additional 531,182 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Verve Therapeutics by 18.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock valued at $64,085,000 after acquiring an additional 741,753 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Verve Therapeutics by 57.2% during the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock valued at $55,486,000 after acquiring an additional 1,448,003 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Verve Therapeutics by 8.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock worth $34,424,000 after purchasing an additional 194,594 shares during the period. Institutional investors 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.