Insider Selling: Verve Therapeutics, Inc. (NASDAQ:VERV) Insider Sells 2,777 Shares of Stock

Verve Therapeutics, Inc. (NASDAQ:VERV) insider Joan Nickerson sold 2,777 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $4.15, for a total transaction of $11,524.55. Following the completion of the sale, the insider now directly owns 17,420 shares of the company’s stock, valued at $72,293. This represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Verve Therapeutics Price Performance

Shares of VERV opened at $3.62 on Friday. The firm has a 50 day simple moving average of $6.61 and a two-hundred day simple moving average of $6.03. The company has a market cap of $321.44 million, a P/E ratio of -1.47 and a beta of 1.86. Verve Therapeutics, Inc. has a one year low of $3.46 and a one year high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.14. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. On average, analysts expect that Verve Therapeutics, Inc. will post -2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after acquiring an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Verve Therapeutics during the 4th quarter valued at $50,000. Erste Asset Management GmbH bought a new stake in Verve Therapeutics during the 3rd quarter worth $56,000. Finally, Impact Partnership Wealth LLC acquired a new position in Verve Therapeutics in the 4th quarter worth about $70,000. 97.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VERV shares. Royal Bank of Canada cut their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Guggenheim reissued a “buy” rating on shares of Verve Therapeutics in a report on Tuesday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a research note on Tuesday, March 25th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.67.

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.