Verve Therapeutics, Inc. (NASDAQ:VERV) Receives $25.20 Consensus Target Price from Analysts

Verve Therapeutics, Inc. (NASDAQ:VERV) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.20.

VERV has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Verve Therapeutics in a report on Monday, August 12th. Finally, Royal Bank of Canada decreased their price target on Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 9th.

Verve Therapeutics Trading Up 2.1 %

Shares of NASDAQ:VERV opened at $4.94 on Wednesday. Verve Therapeutics has a twelve month low of $4.30 and a twelve month high of $20.12. The company has a market cap of $414.79 million, a PE ratio of -1.70 and a beta of 1.84. The company’s 50 day moving average is $5.82 and its 200 day moving average is $8.26.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.09. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The business had revenue of $6.70 million for the quarter, compared to the consensus estimate of $2.40 million. During the same period in the prior year, the firm earned ($0.87) EPS. The business’s revenue for the quarter was up 219.0% on a year-over-year basis. Equities research analysts predict that Verve Therapeutics will post -2.65 earnings per share for the current fiscal year.

Institutional Trading of Verve Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in shares of Verve Therapeutics during the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in Verve Therapeutics in the 4th quarter worth about $30,000. Quest Partners LLC purchased a new stake in Verve Therapeutics during the 4th quarter worth approximately $34,000. Nisa Investment Advisors LLC raised its holdings in shares of Verve Therapeutics by 908.4% during the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after acquiring an additional 6,949 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Verve Therapeutics by 89.8% during the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock valued at $59,000 after acquiring an additional 5,723 shares during the last quarter. 97.11% of the stock is currently owned by hedge funds and other 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.