Verve Therapeutics, Inc. (NASDAQ:VERV) Receives $14.57 Average Target Price from Brokerages

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.57.

Several brokerages recently commented on VERV. Canaccord Genuity Group cut Verve Therapeutics from a “strong-buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $13.00 in a report on Tuesday, June 17th. Jefferies Financial Group cut Verve Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $11.00 in a report on Wednesday, June 18th. William Blair cut Verve Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, June 17th. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Finally, Wall Street Zen raised Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Verve Therapeutics by 90.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,413,118 shares of the company’s stock worth $6,458,000 after purchasing an additional 671,939 shares in the last quarter. Acadian Asset Management LLC grew its position in Verve Therapeutics by 126.2% during the 1st quarter. Acadian Asset Management LLC now owns 30,803 shares of the company’s stock worth $140,000 after purchasing an additional 17,186 shares in the last quarter. Woodline Partners LP purchased a new position in Verve Therapeutics during the 1st quarter worth approximately $12,648,000. AQR Capital Management LLC grew its position in Verve Therapeutics by 1,028.7% during the 1st quarter. AQR Capital Management LLC now owns 373,207 shares of the company’s stock worth $1,706,000 after purchasing an additional 340,143 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in Verve Therapeutics during the 1st quarter worth approximately $57,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Verve Therapeutics Trading Up 0.1%

VERV opened at $11.23 on Thursday. The business’s 50 day moving average is $6.74 and its 200-day moving average is $6.28. The stock has a market cap of $1.00 billion, a PE ratio of -5.32 and a beta of 2.23. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. The company had revenue of $32.98 million for the quarter, compared to analysts’ expectations of $7.13 million. As a group, analysts forecast that Verve Therapeutics will post -2.49 EPS for the current year.

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.