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Is Verve Therapeutics Inc. (NASDAQ) Bullish Or Bearish In 2022?

Verve Therapeutics Inc. (NASDAQ:VERV) shares, rose in value on Thursday, 08/04/22, with the stock price down by -1.40% to the previous day’s close as strong demand from buyers drove the stock to $26.10.

Actively observing the price movement in the last trading, the stock closed the session at $26.47, falling within a range of $23.80 and $26.57. Referring to stock’s 52-week performance, its high was $78.00, and the low was $10.70. On the whole, VERV has fluctuated by 48.38% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.65, which is expected to increase to -$0.42 for fiscal year -$2.66 and then to about -$2.95 by fiscal year 2023. Data indicates that the EPS growth is expected to be 40.60% in 2023, while the next year’s EPS growth is forecast to be -10.90%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that VERV’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VERV currently trading nearly -1.04% and 36.16% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.28, while the 7-day volatility ratio is showing 12.75% which for the 30-day chart, stands at 12.98%. Furthermore, Verve Therapeutics Inc. (VERV)’s average true range (ATR) is 2.85. The company’s stock has been forecasted to trade at an average price of $51.43 over the course of the next 52 weeks, with a low of $34.00 and a high of $75.00. Based on these price targets, the low is -30.27% off current price, whereas the price has to move -187.36% to reach the yearly target high. Additionally, analysts’ median price of $55.00 is likely to be welcomed by investors because it represents a decrease of -110.73% from the current levels.

A comparison of Verve Therapeutics Inc. (VERV) with its peers suggests the former has fared considerably weaker in the market. VERV showed an intraday change of -1.40% in last session, and over the past year, it shrunk by -59.12%%. In comparison, Johnson & Johnson (JNJ) has moved lower at -1.60% on the day and was down -0.91% over the past 12 months. On the other hand, the price of Pfizer Inc. (PFE) has fallen 0.00% on the day. The stock, however, is off 10.33% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.08%. Meanwhile, the Dow Jones Industrial Slipped by -0.26%.

Data on historical trading for Verve Therapeutics Inc. (NASDAQ:VERV) indicates that the trading volumes over the past 10 days have averaged 1.59 million and over the past 3 months, they’ve averaged 1.01 million. According to company’s latest data on outstanding shares, there are 48.57 million shares outstanding.

Nearly 0.60% of Verve Therapeutics Inc.’s shares belong to company insiders and institutional investors own 69.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.92 million shares as on Jul 14, 2022, resulting in a short ratio of 10.1. According to the data, the short interest in Verve Therapeutics Inc. (VERV) stood at 20.39% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 9.94 million. The stock has fallen by -29.21% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VERV stock heading into the next quarter.

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