Why Verve Therapeutics Is Up More Than 16% This Week

Verve Therapeutics (NASDAQ: VERV) is up 16.5% for the week. The biotech stock, which was as low as $41.52 a share on Monday, climbed as high as $48.39 by Thursday. For a relatively new stock (it had its initial public offering (IPO) on June 17), it has been volatile, with a high of $78 a share and a low of $29.50.

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Investors closely watch Cathie Wood's ARK Genomic Revolution ETF fund. It has been a big buyer of Verve, with nearly 1.3 million shares in the company. The fund purchased 3,208 shares of the company on Monday and another 22,150 shares of the company on Wednesday. 

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Source Fool.com