Verve Therapeutics Inc. [VERV] Stock trading around $35.91 per share: What’s Next?


Verve Therapeutics Inc. [NASDAQ: VERV] stock went on an upward path that rose over 11.21% on Wednesday, amounting to a one-week price increase of more than 42.67%. The company report on July 20, 2022 that Verve Therapeutics Announces Proposed Public Offering of Common Stock.

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Verve Therapeutics, Inc. (Nasdaq: VERV), a biotechnology company pioneering a new approach to the care of cardiovascular disease with single-course gene editing medicines, today announced that it has commenced an underwritten public offering of $200.0 million of shares of its common stock. All of the shares are being offered by Verve. In addition, Verve expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the public offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

J.P. Morgan, Jefferies, Guggenheim Securities and William Blair are acting as joint book-running managers for the offering.

Over the last 12 months, VERV stock dropped by -29.39%. The one-year Verve Therapeutics Inc. stock forecast points to a potential upside of 33.29. The average equity rating for VERV stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.78 billion, with 48.57 million shares outstanding and 31.44 million shares in the current float. Compared to the average trading volume of 814.42K shares, VERV stock reached a trading volume of 3170694 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Verve Therapeutics Inc. [VERV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VERV shares is $53.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VERV stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Verve Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on February 18, 2022, representing the official price target for Verve Therapeutics Inc. stock. Previously, the target price had yet another raise to $58, while Stifel analysts kept a Hold rating on VERV stock.

The Average True Range (ATR) for Verve Therapeutics Inc. is set at 2.69 The Price to Book ratio for the last quarter was 5.27, with the Price to Cash per share for the same quarter was set at 6.51.

VERV Stock Performance Analysis:

Verve Therapeutics Inc. [VERV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.67. With this latest performance, VERV shares gained by 183.87% in over the last four-week period, additionally plugging by 16.86% over the last 6 months – not to mention a drop of -29.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VERV stock in for the last two-week period is set at 85.32, with the RSI for the last a single of trading hit 89.58, and the three-weeks RSI is set at 80.37 for Verve Therapeutics Inc. [VERV]. The present Moving Average for the last 50 days of trading for this stock 16.28, while it was recorded at 28.48 for the last single week of trading, and 28.36 for the last 200 days.

Insight into Verve Therapeutics Inc. Fundamentals:

Return on Equity for this stock declined to -82.00, with Return on Assets sitting at -52.02.

Verve Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 22.20 and a Current Ratio set at 22.20.

Verve Therapeutics Inc. [VERV] Insider Position Details

There are presently around $1,293 million, or 80.80% of VERV stock, in the hands of institutional investors. The top three institutional holders of VERV stocks are: FMR LLC with ownership of 5,115,910, which is approximately 2.288% of the company’s market cap and around 1.00% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 3,138,167 shares of the stock with an approximate value of $112.69 million in VERV stocks shares; and STATE STREET CORP, currently with $95.63 million in VERV stock with ownership of nearly 51.024% of the company’s market capitalization.

Positions in Verve Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 58 institutional holders increased their position in Verve Therapeutics Inc. [NASDAQ:VERV] by around 6,344,597 shares. Additionally, 45 investors decreased positions by around 4,827,354 shares, while 10 investors held positions by with 24,837,579 shares. The mentioned changes placed institutional holdings at 36,009,530 shares, according to the latest SEC report filing. VERV stock had 19 new institutional investments in for a total of 758,316 shares, while 22 institutional investors sold positions of 1,005,410 shares during the same period.