Verve Therapeutics, Inc. (NASDAQ:VERV – Get Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $22.13, but opened at $21.10. Verve Therapeutics shares last traded at $20.82, with a volume of 263 shares traded.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Verve Therapeutics to $37.00 in a report on Tuesday, November 15th. The Goldman Sachs Group initiated coverage on shares of Verve Therapeutics in a report on Thursday, December 15th. They issued a "sell" rating and a $13.00 target price on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of Verve Therapeutics from $42.00 to $35.00 and set an "outperform" rating for the company in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $43.17.
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Verve Therapeutics Trading Up 3.7 %
The stock's 50-day moving average price is $21.36 and its two-hundred day moving average price is $28.51. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.44 and a beta of 1.44.
Verve Therapeutics (NASDAQ:VERV – Get Rating) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.04). The company had revenue of $0.93 million for the quarter, compared to the consensus estimate of $5.00 million. On average, equities research analysts predict that Verve Therapeutics, Inc. will post -3.02 earnings per share for the current year.
Insider Buying and Selling
In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm's stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Verve Therapeutics news, Director Krishna Yeshwant sold 49,568 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $32.79, for a total value of $1,625,334.72. Following the sale, the director now directly owns 4,308,630 shares in the company, valued at approximately $141,279,977.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm's stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,545 shares of company stock valued at $13,366,128. Company insiders own 26.40% of the company's stock.
Institutional Trading of Verve Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in VERV. Penserra Capital Management LLC purchased a new stake in shares of Verve Therapeutics during the 1st quarter valued at $46,000. High Net Worth Advisory Group LLC purchased a new stake in shares of Verve Therapeutics during the 3rd quarter valued at $52,000. Lazard Asset Management LLC purchased a new position in Verve Therapeutics in the 3rd quarter worth $64,000. Ameritas Investment Partners Inc. raised its position in Verve Therapeutics by 133.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,827 shares of the company's stock worth $65,000 after purchasing an additional 1,616 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Verve Therapeutics in the 2nd quarter worth $99,000. Hedge funds and other institutional investors own 98.52% of the company's stock.
About Verve Therapeutics
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Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.
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