Verve Therapeutics Target of Unusually High Options Trading (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV) was the target of some unusual options trading activity on Tuesday. Investors purchased 51,590 put options on the stock. This represents an increase of 8,413% compared to the typical volume of 606 put options.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 15th. William Blair reissued a “market perform” rating on shares of Verve Therapeutics in a research note on Tuesday. Guggenheim lifted their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, HC Wainwright lifted their price target on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verve Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $19.25.

Verve Therapeutics Trading Up 81.5%

Shares of Verve Therapeutics stock opened at $11.38 on Wednesday. The company’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $5.84. The company has a market cap of $1.01 billion, a P/E ratio of -5.39 and a beta of 1.67. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The firm had revenue of $32.98 million for the quarter, compared to analysts’ expectations of $7.13 million. Analysts predict that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Trading of Verve Therapeutics

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Verve Therapeutics by 1.9% during the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after buying an additional 2,093 shares in the last quarter. Arizona State Retirement System boosted its stake in Verve Therapeutics by 15.8% in the 4th quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after purchasing an additional 2,669 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Verve Therapeutics by 11.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,690 shares of the company’s stock worth $122,000 after buying an additional 2,690 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 worth $313,000 after buying an additional 2,742 shares during the last quarter. Finally, Invesco Ltd. raised its position in Verve Therapeutics by 5.7% in the 4th quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock worth $322,000 after buying an additional 3,080 shares during the last quarter. Institutional investors own 97.11% of the company’s stock.

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.