Verve Therapeutics (NASDAQ:VERV) Price Target Cut to $14.00 by Analysts at HC Wainwright

Verve Therapeutics (NASDAQ:VERV) had its price target decreased by HC Wainwright from $15.00 to $14.00 in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts also recently weighed in on VERV. Canaccord Genuity Group cut their price objective on shares of Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada cut their price objective on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics currently has an average rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Stock Performance

Verve Therapeutics stock opened at $6.41 on Wednesday. The firm’s 50-day moving average is $5.47 and its 200-day moving average is $5.69. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $20.12. The company has a market cap of $542.41 million, a P/E ratio of -2.47 and a beta of 1.75.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same period last year, the firm posted ($0.72) EPS. The company’s revenue for the quarter was up 120.2% on a year-over-year basis. As a group, sell-side analysts predict that Verve Therapeutics will post -2.65 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Several large investors have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. increased its stake in Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after buying an additional 1,778 shares during the period. Arizona State Retirement System increased its stake in Verve Therapeutics by 14.1% during the 2nd quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock valued at $80,000 after buying an additional 2,019 shares during the period. Accredited Investors Inc. increased its stake in Verve Therapeutics by 16.3% during the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock valued at $85,000 after buying an additional 2,455 shares during the period. ProShare Advisors LLC increased its stake in Verve Therapeutics by 31.0% during the 1st quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock valued at $235,000 after buying an additional 4,184 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Verve Therapeutics by 20.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,105 shares of the company’s stock valued at $137,000 after buying an additional 4,759 shares during the period. 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.