Verve Therapeutics, Inc. (NASDAQ:VERV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Verve Therapeutics, Inc. (NASDAQ:VERVGet Free Report) has received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.00.

VERV has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Stifel Nicolaus reduced their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Verve Therapeutics in a research report on Thursday, May 9th.

Check Out Our Latest Research Report on Verve Therapeutics

Verve Therapeutics Price Performance

Shares of VERV opened at $5.28 on Friday. Verve Therapeutics has a 1 year low of $4.90 and a 1 year high of $21.42. The firm has a market cap of $443.31 million, a PE ratio of -1.84 and a beta of 1.85. The stock’s fifty day moving average price is $6.72 and its two-hundred day moving average price is $10.92.

Verve Therapeutics (NASDAQ:VERVGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. Verve Therapeutics had a negative return on equity of 37.35% and a negative net margin of 1,226.51%. The company had revenue of $5.70 million for the quarter, compared to analyst estimates of $2.11 million. Verve Therapeutics’s revenue was up 305.6% on a year-over-year basis. Sell-side analysts anticipate that Verve Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insider Transactions at Verve Therapeutics

In other news, insider Andrew D. Ashe acquired 76,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $6.26 per share, for a total transaction of $475,760.00. Following the acquisition, the insider now owns 342,509 shares of the company’s stock, valued at $2,144,106.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in Verve Therapeutics during the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. purchased a new stake in Verve Therapeutics during the 4th quarter valued at about $30,000. Quest Partners LLC purchased a new stake in Verve Therapeutics during the 4th quarter valued at about $34,000. Daiwa Securities Group Inc. boosted its holdings in Verve Therapeutics by 35.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock valued at $94,000 after acquiring an additional 1,759 shares during the period. Finally, PBCay One RSC Ltd purchased a new stake in Verve Therapeutics during the 4th quarter valued at about $96,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

About Verve Therapeutics

(Get Free Report

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.

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Analyst Recommendations for Verve Therapeutics (NASDAQ:VERV)

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