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

Verve Therapeutics, Inc. (NASDAQ:VERV) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $33.00.

A number of brokerages have recently issued reports on VERV. Stifel Nicolaus lowered their target price on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. HC Wainwright started coverage on shares of Verve Therapeutics in a research note on Monday, April 8th. They set a “buy” rating and a $15.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Verve Therapeutics in a report on Wednesday, February 28th.

Verve Therapeutics Stock Performance

VERV stock opened at $6.58 on Thursday. The firm has a fifty day moving average price of $11.92 and a 200 day moving average price of $12.25. Verve Therapeutics has a fifty-two week low of $6.42 and a fifty-two week high of $21.42. The firm has a market cap of $550.22 million, a PE ratio of -2.11 and a beta of 1.70.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.14. The company had revenue of $5.14 million during the quarter, compared to analyst estimates of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. On average, equities analysts predict that Verve Therapeutics will post -2.92 EPS for the current year.

Institutional Trading of Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VERV. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Verve Therapeutics by 8.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock worth $34,424,000 after purchasing an additional 194,594 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in Verve Therapeutics by 11.5% in the first quarter. Green Alpha Advisors LLC now owns 24,940 shares of the company’s stock worth $331,000 after purchasing an additional 2,574 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Verve Therapeutics in the fourth quarter worth about $30,000. Nomura Holdings Inc. raised its holdings in Verve Therapeutics by 5.0% in the fourth quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after purchasing an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in Verve Therapeutics in the fourth quarter worth about $29,000. 97.11% of the stock is currently owned by institutional investors.

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.