Verve Therapeutics (NASDAQ:VERV) Stock Price Down 11.4%

Verve Therapeutics, Inc. (NASDAQ:VERV) shares fell 11.4% on Tuesday . The company traded as low as $33.69 and last traded at $34.15. 15,768 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 395,837 shares. The stock had previously closed at $38.53.

A number of brokerages have weighed in on VERV. Stifel Nicolaus began coverage on shares of Verve Therapeutics in a research note on Thursday, September 23rd. They issued a “hold” rating and a $58.00 price target on the stock. William Blair reaffirmed a “buy” rating on shares of Verve Therapeutics in a research note on Thursday, September 2nd. Finally, Zacks Investment Research raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verve Therapeutics currently has a consensus rating of “Buy” and an average target price of $71.20.

The company’s fifty day moving average is $47.40.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.02). Equities analysts forecast that Verve Therapeutics, Inc. will post 0.09 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Verve Therapeutics by 15.9% in the third quarter. Wellington Management Group LLP now owns 4,594,226 shares of the company’s stock valued at $213,551,000 after purchasing an additional 628,747 shares during the last quarter. FMR LLC acquired a new stake in shares of Verve Therapeutics in the second quarter valued at approximately $207,851,000. Redmile Group LLC acquired a new position in Verve Therapeutics during the second quarter worth $116,676,000. BlackRock Inc. increased its holdings in Verve Therapeutics by 78.2% during the third quarter. BlackRock Inc. now owns 944,457 shares of the company’s stock worth $44,390,000 after buying an additional 414,533 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Verve Therapeutics during the second quarter worth $55,446,000. Institutional investors own 61.02% of the company’s stock.

About Verve Therapeutics (NASDAQ:VERV)

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 ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.

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