Verve Therapeutics, Inc. (NASDAQ:VERV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

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

Verve Therapeutics Stock Up 4.1 %

Shares of VERV opened at $6.91 on Thursday. The stock has a market cap of $577.81 million, a PE ratio of -2.21 and a beta of 1.70. Verve Therapeutics has a 12-month low of $6.42 and a 12-month high of $21.42. The business has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $12.33.

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

Institutional Trading of Verve Therapeutics

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Verve Therapeutics during the fourth quarter worth approximately $29,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Verve Therapeutics during the 4th quarter worth approximately $30,000. Quest Partners LLC bought a new stake in shares of Verve Therapeutics in the 4th quarter valued at $34,000. Daiwa Securities Group Inc. lifted its position in shares of Verve Therapeutics by 35.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock valued at $94,000 after acquiring an additional 1,759 shares during the period. Finally, PBCay One RSC Ltd bought a new position in Verve Therapeutics during the fourth quarter worth $96,000. 97.11% of the stock is currently 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.