Verve Therapeutics Target of Unusually High Options Trading (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 51,590 put options on the stock. This is an increase of 8,413% compared to the typical daily volume of 606 put options.

Verve Therapeutics Price Performance

Shares of VERV stock opened at $11.38 on Wednesday. The firm has a 50-day moving average of $5.02 and a 200-day moving average of $5.84. The company has a market cap of $1.01 billion, a P/E ratio of -5.39 and a beta of 1.67. Verve Therapeutics has a one year low of $2.86 and a one year high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The company had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. As a group, research analysts expect that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VERV. Canaccord Genuity Group reissued a “hold” rating and set a $13.00 target price (down from $39.00) on shares of Verve Therapeutics in a research note on Tuesday. HC Wainwright increased their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. Cantor Fitzgerald raised shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. William Blair reaffirmed a “market perform” rating on shares of Verve Therapeutics in a research note on Tuesday. Finally, Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verve Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Institutional Trading of Verve Therapeutics

A number of large investors have recently added to or reduced their stakes in VERV. KFG Wealth Management LLC purchased a new stake in Verve Therapeutics during the first quarter worth about $46,000. IFP Advisors Inc increased its holdings in Verve Therapeutics by 823,700.0% during the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after buying an additional 8,237 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Verve Therapeutics during the first quarter worth about $47,000. E Fund Management Co. Ltd. bought a new position in Verve Therapeutics during the first quarter worth about $48,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Verve Therapeutics in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

About Verve Therapeutics

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.