Verve Therapeutics (NASDAQ:VERV) Stock Price Up 5.6% – Should You Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price rose 5.6% during trading on Wednesday . The stock traded as high as $7.47 and last traded at $7.66. Approximately 41,799 shares were traded during trading, a decline of 98% from the average daily volume of 1,718,185 shares. The stock had previously closed at $7.25.

Wall Street Analysts Forecast Growth

VERV has been the subject of several recent analyst reports. Canaccord Genuity Group increased their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, HC Wainwright lowered their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

Verve Therapeutics Price Performance

The company’s fifty day simple moving average is $6.19 and its 200 day simple moving average is $5.85.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $6.87 million during the quarter, compared to the consensus estimate of $2.75 million. During the same period last year, the business posted ($0.72) earnings per share. The business’s revenue for the quarter was up 120.2% compared to the same quarter last year. Equities research analysts predict that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Verve Therapeutics by 1.9% during the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after acquiring an additional 2,093 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Verve Therapeutics by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,676 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Verve Therapeutics in the fourth quarter worth $70,000. Nisa Investment Advisors LLC raised its stake in Verve Therapeutics by 465.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock valued at $241,000 after purchasing an additional 35,214 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its position in Verve Therapeutics by 15.0% during the fourth quarter. Green Alpha Advisors LLC now owns 29,438 shares of the company’s stock worth $166,000 after purchasing an additional 3,840 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.

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.