Guggenheim Raises Verve Therapeutics (NASDAQ:VERV) Price Target to $24.00

Verve Therapeutics (NASDAQ:VERV) had its price target increased by research analysts at Guggenheim from $18.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 362.43% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Canaccord Genuity Group lifted their target price on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday. HC Wainwright increased their price target on Verve Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada lowered their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Finally, William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics has an average rating of “Buy” and an average target price of $25.75.

Verve Therapeutics Stock Performance

NASDAQ VERV traded up $1.07 on Tuesday, reaching $5.19. The company had a trading volume of 13,436,948 shares, compared to its average volume of 2,123,899. The company’s fifty day moving average is $5.90 and its 200-day moving average is $5.93. The firm has a market capitalization of $460.85 million, a price-to-earnings ratio of -2.11 and a beta of 1.86. Verve Therapeutics has a 1-year low of $2.86 and a 1-year high of $9.31.

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

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. KFG Wealth Management LLC bought a new stake in shares of Verve Therapeutics during the 1st quarter worth about $46,000. Merit Financial Group LLC boosted its holdings in shares of Verve Therapeutics by 125.6% during the first quarter. Merit Financial Group LLC now owns 27,206 shares of the company’s stock worth $124,000 after acquiring an additional 15,146 shares during the period. Green Alpha Advisors LLC grew its position in shares of Verve Therapeutics by 85.1% in the first quarter. Green Alpha Advisors LLC now owns 54,492 shares of the company’s stock valued at $249,000 after purchasing an additional 25,054 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Verve Therapeutics by 454.0% in the first quarter. GAMMA Investing LLC now owns 33,539 shares of the company’s stock valued at $153,000 after purchasing an additional 27,485 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Verve Therapeutics by 4.2% during the 4th quarter. Wellington Management Group LLP now owns 361,498 shares of the company’s stock worth $2,039,000 after purchasing an additional 14,469 shares during the last quarter. 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.