Verve Therapeutics (NASDAQ:VERV) Trading Down 6.7% – Should You Sell?

Verve Therapeutics, Inc. (NASDAQ:VERV) traded down 6.7% during trading on Wednesday . The company traded as low as $8.00 and last traded at $7.91. 607,308 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,568,531 shares. The stock had previously closed at $8.48.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HC Wainwright dropped their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their target price on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a research note on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verve Therapeutics currently has a consensus rating of “Buy” and an average target price of $25.75.

Verve Therapeutics Price Performance

The stock has a market capitalization of $616.32 million, a price-to-earnings ratio of -2.96 and a beta of 1.74. The business has a 50 day simple moving average of $6.80 and a 200-day simple moving average of $5.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Verve Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after buying an additional 1,676 shares during the period. Rhumbline Advisers boosted its position in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after buying an additional 2,093 shares during the period. Accredited Investors Inc. boosted its position in shares of Verve Therapeutics by 14.3% during the third quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock worth $97,000 after buying an additional 2,500 shares during the period. Arizona State Retirement System boosted its position in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after buying an additional 2,669 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Verve Therapeutics by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock valued at $313,000 after buying an additional 2,742 shares during the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

Verve Therapeutics Company Profile

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.