- The shares of the gene editing company Verve Therapeutics ( NASDAQ: VERV ) jumped ~20% in the morning hours Monday recording the biggest intraday gain since June 2021 to reach the highest level since early March.
- About 764.5K Verve ( VERV ) shares have changed hands so far, exceeding the 65-day average of ~734.2K.
- The upsurge follows a bullish view from BMO Capital Markets on the Cambridge, Massachusetts-based biotech in which the analyst Kostas Biliouris raised his price target on the stock to $62 from $48 per share.
- “We consider Verve as one of the cleanest stories in gene editing and see significant long-term upside,” Biliouris wrote, reiterating the Outperform rating and classifying the stock as a “top pick.”
- Initiating the coverage on Verve ( VERV ) in June, Biliouris highlighted, among other things, the company’s differentiated gene-editing approach.
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Verve adds 20% most in a year to reach four-month high