Verve Therapeutics (NASDAQ:VERV) Hits New 52-Week Low at $6.05

Verve Therapeutics, Inc. (NASDAQ:VERV) reached a new 52-week low during trading on Thursday . The stock traded as low as $6.05 and last traded at $6.22, with a volume of 247043 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

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

Verve Therapeutics Stock Performance

The company has a market capitalization of $525.97 million, a price-to-earnings ratio of -1.95 and a beta of 1.70. The firm has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $12.25.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.14. The company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. As a group, equities analysts forecast that Verve Therapeutics, Inc. will post -2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Verve Therapeutics by 18.1% during the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock worth $64,085,000 after buying an additional 741,753 shares in the last quarter. Citigroup Inc. boosted its holdings in Verve Therapeutics by 34.8% in the third quarter. Citigroup Inc. now owns 120,669 shares of the company’s stock valued at $1,600,000 after purchasing an additional 31,126 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Verve Therapeutics by 35.1% in the fourth quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock valued at $97,930,000 after purchasing an additional 1,824,549 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Verve Therapeutics by 14.2% in the third quarter. Rafferty Asset Management LLC now owns 319,800 shares of the company’s stock valued at $4,241,000 after purchasing an additional 39,882 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Verve Therapeutics in the third quarter valued at approximately $754,000. 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.