Verve Therapeutics (NASDAQ:VERV) Shares Gap Up to $8.01

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $8.01, but opened at $8.40. Verve Therapeutics shares last traded at $8.02, with a volume of 156,636 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. HC Wainwright assumed coverage on shares of Verve Therapeutics in a research note on Monday. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

Verve Therapeutics Trading Up 0.4 %

The firm’s 50-day moving average price is $12.87 and its two-hundred day moving average price is $12.62. The stock has a market cap of $672.30 million, a PE ratio of -2.57 and a beta of 1.70.

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

Institutional Investors Weigh In On Verve Therapeutics

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics in the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics in the 4th quarter worth approximately $30,000. Quest Partners LLC purchased a new stake in Verve Therapeutics during the fourth quarter valued at approximately $34,000. Amundi purchased a new stake in Verve Therapeutics during the fourth quarter valued at approximately $45,000. Finally, Penserra Capital Management LLC purchased a new stake in Verve Therapeutics during the first quarter valued at approximately $46,000. Hedge funds and other 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.