Verve Therapeutics (NASDAQ:VERV) Shares Gap Up to $8.32

Verve Therapeutics, Inc. (NASDAQ:VERVGet Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.32, but opened at $8.52. Verve Therapeutics shares last traded at $8.44, with a volume of 239,353 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VERV shares. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a report on Wednesday, February 28th. Stifel Nicolaus lowered their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Read Our Latest Report on VERV

Verve Therapeutics Price Performance

The company’s fifty day moving average price is $13.23 and its 200 day moving average price is $12.79. The company has a market cap of $730.84 million, a PE ratio of -2.85 and a beta of 1.70.

Verve Therapeutics (NASDAQ:VERVGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.14. The firm had revenue of $5.14 million for the quarter, compared to analysts’ expectations of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. On average, analysts forecast that Verve Therapeutics, Inc. will post -3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VERV. PNC Financial Services Group Inc. bought a new stake in shares of Verve Therapeutics during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. bought a new stake in Verve Therapeutics in the fourth quarter worth about $30,000. Quest Partners LLC bought a new stake in Verve Therapeutics in the fourth quarter worth about $34,000. Amundi purchased a new position in Verve Therapeutics in the fourth quarter valued at about $45,000. Finally, Penserra Capital Management LLC bought a new position in shares of Verve Therapeutics during the 1st quarter valued at approximately $46,000. Institutional investors own 97.11% of the company’s stock.

About Verve Therapeutics

(Get Free Report)

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.

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