Verve Therapeutics (NASDAQ:VERV) Price Target Raised to $39.00

Verve Therapeutics (NASDAQ:VERV) had its price objective upped by Canaccord Genuity Group from $32.00 to $39.00 in a research report released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

VERV has been the topic of several other research reports. Royal Bank of Canada cut their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Guggenheim reiterated a “buy” rating on shares of Verve Therapeutics in a report on Tuesday, March 25th. William Blair restated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, HC Wainwright upped their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Verve Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV opened at $4.59 on Tuesday. The company has a 50 day moving average price of $5.70 and a two-hundred day moving average price of $5.91. The company has a market capitalization of $407.57 million, a PE ratio of -1.87 and a beta of 1.86. Verve Therapeutics has a 52 week low of $2.86 and a 52 week high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.14. The business had revenue of $13.08 million during the quarter, compared to analysts’ expectations of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. On average, sell-side analysts forecast that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BVF Inc. IL boosted its stake in shares of Verve Therapeutics by 962.2% during the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after buying an additional 6,254,050 shares during the last quarter. State Street Corp boosted its position in Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in Verve Therapeutics by 57.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock valued at $21,372,000 after purchasing an additional 1,382,176 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Verve Therapeutics by 18.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock worth $10,423,000 after purchasing an additional 288,678 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Verve Therapeutics by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company’s stock valued at $9,172,000 after buying an additional 25,093 shares during the last quarter. Institutional investors and hedge funds 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.