Verve Therapeutics (NASDAQ:VERV) Stock Price Up 6.2% – Should You Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s share price was up 6.2% during trading on Friday . The company traded as high as $6.40 and last traded at $6.38. Approximately 98,868 shares traded hands during trading, a decline of 83% from the average daily volume of 565,341 shares. The stock had previously closed at $6.01.

Analysts Set New Price Targets

Several analysts have issued reports on VERV shares. HC Wainwright dropped their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group raised their price target on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating 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 report on Wednesday, November 6th.

Verve Therapeutics Price Performance

The company has a market cap of $528.30 million, a price-to-earnings ratio of -2.54 and a beta of 1.71. The firm has a 50-day moving average price of $5.84 and a 200 day moving average price of $5.70.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The firm had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. During the same period in the prior year, the firm posted ($0.72) EPS. The company’s revenue for the quarter was up 120.2% on a year-over-year basis. On average, equities analysts anticipate that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after buying an additional 3,964 shares in the last quarter. Creative Planning acquired a new position in Verve Therapeutics during the third quarter valued at approximately $50,000. PFG Investments LLC acquired a new position in Verve Therapeutics during the third quarter valued at approximately $53,000. Erste Asset Management GmbH bought a new stake in Verve Therapeutics during the third quarter worth $56,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Verve Therapeutics by 89.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after purchasing an additional 5,723 shares in the last quarter. 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.