Verve Therapeutics (NASDAQ:VERV) Price Target Raised to $25.00

Verve Therapeutics (NASDAQ:VERV) had its target price upped by HC Wainwright from $15.00 to $25.00 in a research report released on Monday morning, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

Several other brokerages also recently commented on VERV. Royal Bank of Canada lowered their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Verve Therapeutics in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics has an average rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $4.51 on Monday. Verve Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $9.31. The company has a market cap of $400.47 million, a price-to-earnings ratio of -1.83 and a beta of 1.86. The stock has a fifty day moving average price of $5.76 and a 200-day moving average price of $5.91.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in Verve Therapeutics by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after purchasing an additional 1,676 shares in the last quarter. Rhumbline Advisers raised its holdings in Verve Therapeutics by 1.9% in the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after buying an additional 2,093 shares during the last quarter. Arizona State Retirement System boosted its position in Verve Therapeutics by 15.8% during the 4th quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after buying an additional 2,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Verve Therapeutics by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock worth $313,000 after acquiring an additional 2,742 shares during the last quarter. Finally, Invesco Ltd. increased its position in Verve Therapeutics by 5.7% in the 4th quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock valued at $322,000 after acquiring an additional 3,080 shares during the period. 97.11% of the stock is currently owned by institutional investors.

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.