Verve Therapeutics (NASDAQ:VERV) Stock Price Expected to Rise, HC Wainwright Analyst Says

Verve Therapeutics (NASDAQ:VERV) had its target price boosted by equities research analysts at HC Wainwright from $14.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 141.94% from the company’s current price.

A number of other equities research analysts also recently weighed in on VERV. Canaccord Genuity Group lifted their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $26.00.

Verve Therapeutics Price Performance

VERV stock opened at $6.20 on Friday. The business’s fifty day moving average price is $6.89 and its two-hundred day moving average price is $5.99. The stock has a market capitalization of $524.92 million, a price-to-earnings ratio of -2.52 and a beta of 1.74. Verve Therapeutics has a fifty-two week low of $4.30 and a fifty-two week high of $19.34.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping 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 net margin of 807.65% and a negative return on equity of 35.23%. Research analysts expect that Verve Therapeutics will post -2.49 EPS for the current year.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BVF Inc. IL raised its holdings in shares of Verve Therapeutics by 962.2% during the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after buying an additional 6,254,050 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Verve Therapeutics in the fourth quarter valued at about $7,863,000. Schonfeld Strategic Advisors LLC raised its stake in Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock worth $21,372,000 after acquiring an additional 1,382,176 shares in the last quarter. State Street Corp lifted its holdings in shares of Verve Therapeutics by 27.0% in the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after acquiring an additional 903,809 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Verve Therapeutics by 72.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company’s stock valued at $7,547,000 after purchasing an additional 653,578 shares in the last quarter. 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.