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

Verve Therapeutics, Inc. (NASDAQ:VERV) has been assigned an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $25.50.

A number of analysts have issued reports on VERV shares. Royal Bank of Canada reduced their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Guggenheim restated a “buy” rating on shares of Verve Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a research report on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st.

Verve Therapeutics Price Performance

Shares of NASDAQ:VERV traded down $0.14 during mid-day trading on Tuesday, reaching $5.64. 364,206 shares of the company traded hands, compared to its average volume of 1,421,327. The firm has a market cap of $500.81 million, a PE ratio of -2.30 and a beta of 1.77. Verve Therapeutics has a 52 week low of $4.31 and a 52 week high of $13.63. The company’s 50 day moving average price is $6.96 and its 200-day moving average price is $6.09.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million. On average, research analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Trading of Verve Therapeutics

Large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Verve Therapeutics by 189.7% in the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after acquiring an additional 3,964 shares in the last quarter. IFP Advisors Inc raised its stake in Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after acquiring an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Verve Therapeutics during the 4th quarter valued at approximately $50,000. Erste Asset Management GmbH purchased a new position in shares of Verve Therapeutics during the 3rd quarter valued at about $56,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Verve Therapeutics during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

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.