Verve Therapeutics (NASDAQ:VERV) Price Target Raised to $15.00

Verve Therapeutics (NASDAQ:VERV) had its price objective raised by research analysts at HC Wainwright from $14.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 141.94% from the company’s current price.

Several other brokerages also recently commented on VERV. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Royal Bank of Canada reduced their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group increased their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $26.00.

Verve Therapeutics Stock Down 1.7 %

Shares of VERV opened at $6.20 on Friday. The stock has a market cap of $524.92 million, a PE ratio of -2.52 and a beta of 1.74. Verve Therapeutics has a 12-month low of $4.30 and a 12-month high of $19.34. The business has a 50-day simple moving average of $6.89 and a two-hundred day simple moving average of $5.99.

Verve Therapeutics (NASDAQ:VERV) last posted its earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The business had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. On average, equities research analysts expect that Verve Therapeutics will post -2.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VERV. China Universal Asset Management Co. Ltd. grew its stake in Verve Therapeutics by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,676 shares during the period. Rhumbline Advisers boosted its holdings in shares of Verve Therapeutics by 1.9% during the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after buying an additional 2,093 shares in the last quarter. Accredited Investors Inc. grew its position in shares of Verve Therapeutics by 14.3% during the 3rd quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock worth $97,000 after buying an additional 2,500 shares during the period. Arizona State Retirement System increased its stake in shares of Verve Therapeutics by 15.8% in the 4th quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock valued at $111,000 after acquiring an additional 2,669 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Verve Therapeutics by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock valued at $313,000 after acquiring an additional 2,742 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.

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.