Verve Therapeutics, Inc. (NASDAQ:VERV) Receives $25.50 Consensus Target Price from Brokerages

Verve Therapeutics, Inc. (NASDAQ:VERV) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.50.

VERV has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Verve Therapeutics in a report on Tuesday. Royal Bank of Canada reduced their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Guggenheim reissued a “buy” rating on shares of Verve Therapeutics in a research note on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV opened at $5.28 on Tuesday. Verve Therapeutics has a 52 week low of $4.31 and a 52 week high of $13.63. The firm has a market cap of $468.84 million, a PE ratio of -2.15 and a beta of 1.77. The firm’s fifty day moving average is $6.96 and its 200-day moving average is $6.08.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. The firm had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Sell-side analysts forecast that Verve Therapeutics will post -2.49 EPS for the current year.

Institutional Trading of Verve Therapeutics

Several hedge funds have recently modified their holdings of VERV. Barclays PLC grew its holdings in Verve Therapeutics by 139.8% in the third quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after purchasing an additional 129,944 shares during the period. State Street Corp boosted its position in shares of Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after purchasing an additional 903,809 shares in the last quarter. Braidwell LP acquired a new stake in shares of Verve Therapeutics in the 3rd quarter valued at about $3,020,000. Charles Schwab Investment Management Inc. increased its position in Verve Therapeutics by 28.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock valued at $2,769,000 after buying an additional 126,110 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Verve Therapeutics by 465.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock worth $241,000 after buying an additional 35,214 shares during the period. Institutional investors own 97.11% of the company’s stock.

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.