Verve Therapeutics (NASDAQ:VERV) Stock Price Down 5.9% – Should You Sell?

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) dropped 5.9% during trading on Friday . The company traded as low as $5.92 and last traded at $5.93. Approximately 317,595 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,363,561 shares. The stock had previously closed at $6.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VERV shares. Canaccord Genuity Group upped their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright cut their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th.

Verve Therapeutics Stock Down 4.4 %

The stock has a market cap of $509.68 million, a price-to-earnings ratio of -2.45 and a beta of 1.71. The company has a 50 day simple moving average of $5.83 and a 200 day simple moving average of $5.68.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.75 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. The company’s revenue was up 120.2% on a year-over-year basis. As a group, analysts predict that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Large investors have recently bought and sold shares of the company. Creative Planning bought a new stake in shares of Verve Therapeutics during the third quarter worth about $50,000. PFG Investments LLC bought a new stake in Verve Therapeutics during the 3rd quarter worth approximately $53,000. Erste Asset Management GmbH acquired a new position in Verve Therapeutics in the 3rd quarter valued at approximately $56,000. Daiwa Securities Group Inc. raised its stake in shares of Verve Therapeutics by 89.8% during the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after acquiring an additional 5,723 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its stake in shares of Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after acquiring an additional 1,778 shares during the last quarter. 97.11% of the stock is currently 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.