Verve Therapeutics (NASDAQ:VERV) Shares Up 5.3% – Should You Buy?

Verve Therapeutics, Inc. (NASDAQ:VERV)’s stock price shot up 5.3% on Monday . The stock traded as high as $5.94 and last traded at $5.91. 105,151 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,330,898 shares. The stock had previously closed at $5.61.

Analyst Ratings Changes

VERV has been the subject of several research reports. Canaccord Genuity Group upped their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lowered their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, HC Wainwright cut their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

Verve Therapeutics Stock Performance

The firm’s 50 day moving average is $5.41 and its 200 day moving average is $5.59.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11. The firm had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Verve Therapeutics’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, analysts expect that Verve Therapeutics, Inc. will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

A number of institutional investors have recently made changes to their positions in VERV. Cornercap Investment Counsel Inc. lifted its position in Verve Therapeutics by 13.5% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after acquiring an additional 1,778 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Verve Therapeutics by 14.1% in the second quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock worth $80,000 after acquiring an additional 2,019 shares during the period. Accredited Investors Inc. lifted its position in Verve Therapeutics by 16.3% during the second quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after purchasing an additional 2,455 shares during the period. FMR LLC boosted its holdings in Verve Therapeutics by 0.3% in the third quarter. FMR LLC now owns 1,418,993 shares of the company’s stock worth $6,868,000 after purchasing an additional 3,873 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Verve Therapeutics by 20.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,105 shares of the company’s stock worth $137,000 after purchasing an additional 4,759 shares during the period. 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.