Verve Therapeutics (NASDAQ:VERV) Sets New 52-Week Low at $5.93

Verve Therapeutics, Inc. (NASDAQ:VERVGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.93 and last traded at $6.13, with a volume of 62461 shares. The stock had previously closed at $6.01.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VERV shares. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 target price on shares of Verve Therapeutics in a research report on Wednesday, February 28th. HC Wainwright began coverage on shares of Verve Therapeutics in a report on Monday, April 8th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

View Our Latest Analysis on VERV

Verve Therapeutics Stock Up 2.5 %

The company has a fifty day moving average price of $11.22 and a two-hundred day moving average price of $12.04.

Verve Therapeutics (NASDAQ:VERVGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. The firm had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. Sell-side analysts predict that Verve Therapeutics, Inc. will post -2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new position in shares of Verve Therapeutics in the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. purchased a new position in Verve Therapeutics in the 4th quarter valued at $30,000. Quest Partners LLC acquired a new position in Verve Therapeutics in the 4th quarter valued at $34,000. Daiwa Securities Group Inc. raised its position in Verve Therapeutics by 35.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock worth $94,000 after buying an additional 1,759 shares during the last quarter. Finally, PBCay One RSC Ltd acquired a new stake in shares of Verve Therapeutics in the 4th quarter worth $96,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

Verve Therapeutics Company Profile

(Get Free Report)

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.

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