Verve Therapeutics, Inc. (NASDAQ:VERV – Get Rating) fell 4.7% during trading on Wednesday . The stock traded as low as $21.51 and last traded at $21.67. 178,318 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 559,891 shares. The stock had previously closed at $22.75.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Royal Bank of Canada decreased their target price on Verve Therapeutics from $42.00 to $35.00 and set an "outperform" rating for the company in a research report on Tuesday, November 8th. The Goldman Sachs Group assumed coverage on shares of Verve Therapeutics in a research report on Thursday, December 15th. They set a "sell" rating and a $13.00 price objective on the stock. Cantor Fitzgerald began coverage on shares of Verve Therapeutics in a research report on Wednesday. They issued a "neutral" rating and a $21.00 target price for the company. Finally, Credit Suisse Group decreased their target price on shares of Verve Therapeutics to $37.00 in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.00.
Get Verve Therapeutics alerts:Verve Therapeutics Stock Performance
The company's 50-day moving average price is $21.12 and its 200 day moving average price is $28.50.
Verve Therapeutics (NASDAQ:VERV – Get Rating) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.04). The firm had revenue of $0.93 million for the quarter, compared to analysts' expectations of $5.00 million. As a group, sell-side analysts expect that Verve Therapeutics, Inc. will post -3.02 earnings per share for the current fiscal year.Institutional Investors Weigh In On Verve Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Verve Therapeutics by 96.2% in the 4th quarter. SG Americas Securities LLC now owns 15,346 shares of the company's stock worth $297,000 after acquiring an additional 7,524 shares in the last quarter. ProShare Advisors LLC increased its holdings in Verve Therapeutics by 10.5% in the 4th quarter. ProShare Advisors LLC now owns 11,112 shares of the company's stock worth $215,000 after acquiring an additional 1,053 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Verve Therapeutics by 58.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,228,447 shares of the company's stock worth $23,770,000 after acquiring an additional 452,750 shares in the last quarter. ARK Investment Management LLC increased its holdings in Verve Therapeutics by 28.6% in the 4th quarter. ARK Investment Management LLC now owns 4,365,830 shares of the company's stock worth $84,479,000 after acquiring an additional 971,971 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Verve Therapeutics by 64.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 169,878 shares of the company's stock worth $5,835,000 after acquiring an additional 66,322 shares in the last quarter. 98.52% of the stock is owned by hedge funds and other institutional investors.
About Verve Therapeutics
(Get Rating)
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Verve Therapeutics (VERV)
- Nvidia Rallies As Investors Bullish On Chipmaker's AI Business
- Bright Green Corporation Future May be Getting Brighter
- Microsoft Fast Integrating AI Into Enterprise & Healthcare Suites
- Cathie Woods' Ark Innovation ETF Set To Rebound in 2023?
- Mullen Automotive Stock Gains Momentum On Positive News
Receive News & Ratings for Verve Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verve Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.