Verve Therapeutics (NASDAQ:VERV) Reaches New 12-Month Low at $7.26

Verve Therapeutics, Inc. (NASDAQ:VERV) shares reached a new 52-week low during trading on Monday . The stock traded as low as $7.26 and last traded at $7.35, with a volume of 327045 shares trading hands. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

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

Verve Therapeutics Price Performance

The stock has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $12.48.

Verve Therapeutics (NASDAQ:VERV) last released 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. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The company had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $3.95 million. Equities research analysts anticipate that Verve Therapeutics, Inc. will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC acquired a new position in shares of Verve Therapeutics in the first quarter worth $46,000. PNC Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at $29,000. Amundi purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at $45,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at $30,000. Finally, Quest Partners LLC purchased a new stake in shares of Verve Therapeutics in the fourth quarter valued at $34,000. 97.11% of the stock is owned by institutional investors and hedge funds.

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.