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A company insider recently bought 76,000 shares of Verve Therapeutics Inc [VERV]. Should You Buy?

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Verve Therapeutics Inc shares valued at $475,760 were purchased by Ashe Andrew D. on May 14 ’24. At $6.26 per share, Ashe Andrew D. acquired 76,000 shares. The insider’s holdings grew to 342,509 shares worth approximately $1.75 million following the completion of this transaction.

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Also, Nickerson Joan sold 1,514 shares, netting a total of over 12,475 in proceeds. Following the sale of shares at $8.24 each, the insider now holds 8,659 shares.

Before that, Dorval Allison had sold 554 shares from its account. In a trade valued at $6,343, the Chief Financial Officer traded Verve Therapeutics Inc shares for $11.45 each. Upon closing the transaction, the insider’s holdings decreased to 554 shares, worth approximately $20706.0.

As published in their initiating research note from H.C. Wainwright on April 08, 2024, Verve Therapeutics Inc [VERV] has been a Buy and the price target has been revised to $15. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of February 01, 2023, Cantor Fitzgerald has initiated its “Neutral” rating for VERV. Earlier on December 15, 2022, Goldman initiated its rating. Their recommendation was “a Sell” for VERV stock.

Analyzing VERV Stock Performance

During the last five days, there has been a surge of approximately 1.59%. Over the course of the year, Verve Therapeutics Inc shares have dropped approximately -63.41%. Shares of the company reached a 52-week high of $19.34 on 02/29/24 and a 52-week low of $4.59 on 06/28/24. A 50-day SMA is recorded $5.64, while a 200-day SMA reached $10.64. Nevertheless, trading volume fell to 0.72 million shares from 1.19 million shares the previous day.

Support And Resistance Levels for Verve Therapeutics Inc (VERV)

According to the 24-hour chart, there is a support level at 4.97, which, if violated, would cause prices to drop to 4.80. In the upper region, resistance lies at 5.34. The next price resistance is at 5.54. RSI (Relative Strength Index) is 41.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.11, which suggests the price will decrease in the coming days. Percent R is at 52.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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