Verve Therapeutics $VERV Dark Pool Trade and Downtrend Channel Breakout

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Verve Therapeutics $VERV stock is testing a downtrend channel breakout going into trading on October 31, 2022. The stock surged higher after a dark pool trade on October 21, 2022.

Dark Pool Trade In Verve Therapeutics $VERV Stock

A $13 million dark pool trade occurred in Verve Therapeutics $VERV stock on October 21, 2022. We think the dark pool trading data suggests it was buying because of how $VERV stock rose following the order being made public.

Verve Therapeutics stock chart on October 30, 2022, with a dark pool trade shown with orange bar and a table to the right with the text TIME SYMBOL MESSAGE PRICE 10/21/22 VERV 411,870 DARK BLOCK $13M 39.92% AvgVol $32.00

Cathie Wood’s ARK Investment bought 113K shares of Verve Therapeutics on September 19, 2022. Could Cathie Wood be buying more $VERV stock over dark pools?

Verve Therapeutics initiated with a Neutral at Credit Suisse

On October 6, 2022, Credit Suisse analyst Richard Law began coverage on Verve Therapeutics, giving it a neutral rating and a $48 price target. He said he is cautious about VERVE-101. Although VERVE-101 is a onetime PCSK9 therapy that could free patients from a lifetime of monthly injections, patients would still need to take oral statins daily, the analyst noted. He thinks there are more market barriers associated with commercial payers and higher out-of-pocket costs for Medicare patients. In addition, Law argued that Leqvio has shown little commercial success, despite less frequent dosing every six months. Its neutral rating is driven by these concerns and Verve’s ability to compete with established and more deeply entrenched large pharma/biotech companies. However, the analyst believes that the challenges for payers may not be fully appreciated until the product is approved/launched and Verve’s stock price may continue to rise because of clinical development and positive data.

Verve announces clearance of its CTA application by UK MHRA for VERVE-101

On September 21, 2022, Verve Therapeutics announced the approval of a Clinical Trial Authorization Application, or CTA, by the UK Medicines and Healthcare Products Regulatory Agency, or MHRA, for VERVE-101 as a potential treatment for patients with heterozygous familial hypercholesterolemia, or HeFH. HeFH is a genetic subtype of atherosclerotic cardiovascular disease, or ASCVD, characterized by extremely high blood levels of the low-density lipoprotein cholesterol, LDL-C, that drives the disease. This UK clinical trial application is part of Verve’s global regulatory strategy for the clinical development of VERVE-101, which also includes the completed New Zealand clinical trial application and pending regulatory approval for the Investigational New Drug Application in the USA. in the second half of 2022. Verve is currently enrolling patients in its Phase 1 clinical trial VERVE-101 for HeFH in New Zealand and expects to enrol patients in the UK within the next few weeks.

Verve Launches Landmark In Vivo Base Editing Trial for Heart Disease | VERVE-101

Verve Therapeutics $VERV Stock Chart

Verve Therapeutics $VERV stock is in a technical strong uptrend. Long-term indicators suggest a continuation of the uptrend. Short-term indicators suggest $VERV stock is approaching overbought territory, so profit taking or even a trend reversal is possible. The stock has formed a downtrend channel breakout chart pattern but has tough resistance up to $42.95.

Verve Therapeutics stock chart on October 30, 2022, in a downtrend channel breakout pattern with a positive MACD and positive money flow.
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