Verve Therapeutics, Inc. (NASDAQ:VERV) Receives Average Rating of “Buy” from Analysts

Verve Therapeutics, Inc. (NASDAQ:VERV) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $25.75.

A number of research analysts have weighed in on VERV shares. Royal Bank of Canada decreased their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Canaccord Genuity Group raised their price objective on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Wall Street Zen raised Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Guggenheim increased their target price on Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Finally, HC Wainwright boosted their price target on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, April 14th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Verve Therapeutics by 1.9% in the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after purchasing an additional 2,093 shares during the last quarter. IFP Advisors Inc increased its stake in Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after purchasing an additional 8,237 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Verve Therapeutics by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 220,502 shares of the company’s stock valued at $1,244,000 after buying an additional 5,262 shares during the last quarter. US Bancorp DE boosted its stake in shares of Verve Therapeutics by 62.8% during the fourth quarter. US Bancorp DE now owns 30,616 shares of the company’s stock worth $173,000 after buying an additional 11,810 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after buying an additional 2,669 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

Verve Therapeutics Trading Down 1.1%

NASDAQ VERV opened at $6.32 on Friday. The firm’s fifty day simple moving average is $4.73 and its two-hundred day simple moving average is $5.79. The firm has a market capitalization of $563.38 million, a P/E ratio of -2.57 and a beta of 1.67. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.36. The business had revenue of $32.98 million for the quarter, compared to analyst estimates of $7.13 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. As a group, sell-side analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

About Verve Therapeutics

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.