Verve Therapeutics, Inc. (NASDAQ:VERV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Verve Therapeutics, Inc. (NASDAQ:VERV) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $33.00.

A number of analysts have issued reports on VERV shares. HC Wainwright started coverage on Verve Therapeutics in a report on Monday, April 8th. They set a “buy” rating and a $15.00 price target for the company. Stifel Nicolaus cut their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th.

Hedge Funds Weigh In On Verve Therapeutics

A number of institutional investors have recently modified their holdings of VERV. ARK Investment Management LLC lifted its position in Verve Therapeutics by 35.1% during the 4th quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock worth $97,930,000 after acquiring an additional 1,824,549 shares during the period. Federated Hermes Inc. raised its holdings in Verve Therapeutics by 57.2% during the fourth quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock worth $55,486,000 after purchasing an additional 1,448,003 shares in the last quarter. Vanguard Group Inc. lifted its position in Verve Therapeutics by 18.1% in the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock valued at $64,085,000 after purchasing an additional 741,753 shares during the period. FMR LLC lifted its position in Verve Therapeutics by 8.8% in the third quarter. FMR LLC now owns 6,577,562 shares of the company’s stock valued at $87,218,000 after purchasing an additional 531,182 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Verve Therapeutics by 11.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,397,604 shares of the company’s stock valued at $33,423,000 after purchasing an additional 250,361 shares in the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV opened at $6.91 on Thursday. The company has a market cap of $577.81 million, a price-to-earnings ratio of -2.21 and a beta of 1.70. The stock’s 50-day moving average is $12.15 and its two-hundred day moving average is $12.33. Verve Therapeutics has a 1-year low of $6.42 and a 1-year high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. The business had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. Equities research analysts anticipate that Verve Therapeutics will post -2.92 earnings per share for the current fiscal year.

Verve Therapeutics Company Profile

Verve Therapeutics, Inc, a clinical stage genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases in the United States. The company's lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver; and VERVE-102, a product candidate that targets the PCSK9 gene for the treatment of HeFH.