Verve Therapeutics (NASDAQ:VERV) Rating Reiterated by HC Wainwright

Verve Therapeutics (NASDAQ:VERV)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 135.85% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. 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 report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Verve Therapeutics Price Performance

NASDAQ:VERV traded up $0.28 during midday trading on Thursday, reaching $6.36. 1,953,075 shares of the company traded hands, compared to its average volume of 1,222,420. The company has a fifty day moving average price of $10.31 and a 200 day moving average price of $11.89. The firm has a market capitalization of $533.73 million, a price-to-earnings ratio of -2.03 and a beta of 1.94. Verve Therapeutics has a twelve month low of $5.84 and a twelve month high of $21.42.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.11. The business had revenue of $5.70 million during the quarter, compared to analyst estimates of $2.11 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The business’s revenue for the quarter was up 305.6% on a year-over-year basis. On average, equities research analysts forecast that Verve Therapeutics will post -2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC boosted its holdings in Verve Therapeutics by 35.1% in the fourth quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company’s stock worth $97,930,000 after acquiring an additional 1,824,549 shares in the last quarter. FMR LLC lifted its position in shares of Verve Therapeutics by 8.8% during the 3rd quarter. FMR LLC now owns 6,577,562 shares of the company’s stock worth $87,218,000 after buying an additional 531,182 shares in the last quarter. Vanguard Group Inc. grew its stake in Verve Therapeutics by 18.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company’s stock valued at $64,085,000 after purchasing an additional 741,753 shares during the period. Federated Hermes Inc. increased its stake in shares of Verve Therapeutics by 57.2% during the 4th quarter. Federated Hermes Inc. now owns 3,980,372 shares of the company’s stock worth $55,486,000 after purchasing an additional 1,448,003 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Verve Therapeutics by 8.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock worth $34,424,000 after acquiring an additional 194,594 shares during the last quarter. Institutional investors 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.