Guggenheim Issues Positive Forecast for Verve Therapeutics (NASDAQ:VERV) Stock Price

Verve Therapeutics (NASDAQ:VERV) had its target price raised by Guggenheim from $18.00 to $24.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on VERV. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, HC Wainwright increased their price target on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV opened at $4.97 on Tuesday. Verve Therapeutics has a 1 year low of $2.86 and a 1 year high of $9.31. The firm has a 50-day moving average of $5.84 and a 200 day moving average of $5.92. The stock has a market cap of $441.32 million, a P/E ratio of -2.02 and a beta of 1.86.

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

Hedge Funds Weigh In On Verve Therapeutics

Several hedge funds have recently modified their holdings of the stock. BVF Inc. IL lifted its stake in Verve Therapeutics by 962.2% in the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after purchasing an additional 6,254,050 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Verve Therapeutics in the fourth quarter worth about $7,863,000. Schonfeld Strategic Advisors LLC boosted its stake in Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock valued at $21,372,000 after buying an additional 1,382,176 shares during the last quarter. State Street Corp grew its holdings in Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after buying an additional 903,809 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Verve Therapeutics in the 4th quarter worth approximately $1,643,000. Hedge funds and other 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.