Verve Therapeutics (NASDAQ:VERV) Trading Down 7.9%

Verve Therapeutics, Inc. (NASDAQ:VERVGet Rating)’s stock price was down 7.9% during mid-day trading on Thursday . The stock traded as low as $24.19 and last traded at $24.38. Approximately 11,490 shares were traded during trading, a decline of 99% from the average daily volume of 1,583,937 shares. The stock had previously closed at $26.47.

Wall Street Analysts Forecast Growth

VERV has been the subject of several research analyst reports. BMO Capital Markets raised their price target on Verve Therapeutics from $48.00 to $62.00 in a report on Monday, July 18th. Guggenheim decreased their price target on Verve Therapeutics to $56.00 in a research note on Monday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

Verve Therapeutics Trading Up 2.2 %

The stock has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $21.66. The firm has a market capitalization of $1.55 billion, a P/E ratio of -3.18 and a beta of 2.77.

Verve Therapeutics (NASDAQ:VERVGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.01. As a group, research analysts expect that Verve Therapeutics, Inc. will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Verve Therapeutics news, Director Burt A. Adelman bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $12.15 per share, for a total transaction of $121,500.00. Following the purchase, the director now directly owns 18,700 shares in the company, valued at $227,205. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Verve Therapeutics news, CEO Sekar Kathiresan sold 50,000 shares of Verve Therapeutics stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $29.90, for a total transaction of $1,495,000.00. Following the completion of the sale, the chief executive officer now owns 317,839 shares of the company’s stock, valued at approximately $9,503,386.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Burt A. Adelman purchased 10,000 shares of the stock in a transaction on Thursday, May 12th. The shares were purchased at an average cost of $12.15 per share, with a total value of $121,500.00. Following the transaction, the director now owns 18,700 shares in the company, valued at approximately $227,205. The disclosure for this purchase can be found here. Insiders have sold a total of 316,184 shares of company stock worth $6,972,793 in the last ninety days.

Institutional Trading of Verve Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Verve Therapeutics in the 1st quarter valued at about $46,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Verve Therapeutics by 133.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,827 shares of the company’s stock valued at $65,000 after buying an additional 1,616 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Verve Therapeutics in the 1st quarter worth about $67,000. Amalgamated Bank acquired a new position in Verve Therapeutics in the 1st quarter worth about $100,000. Finally, Ensign Peak Advisors Inc raised its holdings in Verve Therapeutics by 146.5% in the 1st quarter. Ensign Peak Advisors Inc now owns 4,610 shares of the company’s stock worth $105,000 after purchasing an additional 2,740 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.

About Verve Therapeutics

(Get Rating)

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

Further Reading

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