Verve Therapeutics (NASDAQ:VERV) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Verve Therapeutics (NASDAQ:VERV) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $22.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim reduced their price target on shares of Verve Therapeutics from $56.00 to $55.00 and set a buy rating for the company in a research report on Tuesday, August 15th. Lifesci Capital reissued an outperform rating on shares of Verve Therapeutics in a report on Tuesday, August 8th. Finally, Credit Suisse Group reissued a neutral rating and set a $31.00 target price on shares of Verve Therapeutics in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Verve Therapeutics has an average rating of Moderate Buy and a consensus price target of $30.83.

Verve Therapeutics Stock Down 1.8 %

VERV stock opened at $12.68 on Wednesday. The firm has a 50 day moving average of $16.52 and a 200 day moving average of $16.69. The stock has a market capitalization of $807.97 million, a PE ratio of -4.00 and a beta of 1.70. Verve Therapeutics has a 52 week low of $11.97 and a 52 week high of $40.88.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Thursday, August 10th. The company reported ($0.87) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.03. The company had revenue of $2.10 million during the quarter, compared to analysts’ expectations of $0.67 million. Verve Therapeutics had a negative net margin of 3,534.98% and a negative return on equity of 37.08%. Verve Therapeutics’s revenue for the quarter was up 2000.0% compared to the same quarter last year. On average, equities research analysts expect that Verve Therapeutics will post -3.5 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Avidity Partners Management LP boosted its holdings in Verve Therapeutics by 50.1% during the fourth quarter. Avidity Partners Management LP now owns 1,565,000 shares of the company’s stock worth $30,283,000 after buying an additional 522,294 shares in the last quarter. ARK Investment Management LLC raised its holdings in Verve Therapeutics by 14.9% in the 2nd quarter. ARK Investment Management LLC now owns 5,150,851 shares of the company’s stock worth $96,578,000 after purchasing an additional 668,760 shares during the period. ExodusPoint Capital Management LP raised its holdings in Verve Therapeutics by 291.5% in the 1st quarter. ExodusPoint Capital Management LP now owns 263,620 shares of the company’s stock worth $3,801,000 after purchasing an additional 196,276 shares during the period. CI Investments Inc. acquired a new position in Verve Therapeutics in the 4th quarter worth about $44,000. Finally, Nikko Asset Management Americas Inc. raised its holdings in Verve Therapeutics by 58.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,228,447 shares of the company’s stock worth $23,770,000 after purchasing an additional 452,750 shares during the period. 97.11% of the stock is owned by hedge funds and other institutional investors.

Verve Therapeutics Company Profile

Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.