Verve Therapeutics (NASDAQ:VERV) Sees Large Volume Increase – Here’s What Happened

Verve Therapeutics, Inc. (NASDAQ:VERV) saw an uptick in trading volume on Monday . 4,148,155 shares were traded during mid-day trading, an increase of 215% from the previous session’s volume of 1,317,153 shares.The stock last traded at $6.64 and had previously closed at $6.31.

Wall Street Analysts Forecast Growth

VERV has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright decreased their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their target price 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Trading Down 9.7 %

The business has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $5.68.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The company had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $2.75 million. During the same quarter in the previous year, the business earned ($0.72) EPS. The firm’s revenue was up 120.2% on a year-over-year basis. As a group, sell-side analysts expect that Verve Therapeutics, Inc. will post -2.53 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Verve Therapeutics by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after buying an additional 859,382 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Verve Therapeutics by 31.0% in the first quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock valued at $235,000 after acquiring an additional 4,184 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Verve Therapeutics during the first quarter valued at about $191,000. Algert Global LLC acquired a new stake in Verve Therapeutics during the second quarter worth about $671,000. Finally, Renaissance Technologies LLC increased its stake in Verve Therapeutics by 138.1% during the second quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock worth $2,316,000 after acquiring an additional 275,173 shares during the last quarter. 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.