Verve Therapeutics (NASDAQ:VERV) Price Target Lowered to $17.00 at Royal Bank of Canada

Verve Therapeutics (NASDAQ:VERV) had its price objective lowered by analysts at Royal Bank of Canada from $20.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 167.30% from the company’s previous close.

Several other analysts have also recently commented on VERV. HC Wainwright dropped their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. 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 report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Verve Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Price Performance

VERV opened at $6.36 on Wednesday. The stock has a market capitalization of $538.22 million, a P/E ratio of -2.59 and a beta of 1.75. The company’s 50 day simple moving average is $5.48 and its 200-day simple moving average is $5.69. Verve Therapeutics has a one year low of $4.30 and a one year high of $19.34.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. The firm had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The business’s quarterly revenue was up 120.2% compared to the same quarter last year. During the same period last year, the company earned ($0.72) EPS. As a group, analysts anticipate that Verve Therapeutics will post -2.65 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors have recently bought and sold shares of the business. Accredited Investors Inc. grew its holdings in Verve Therapeutics by 14.3% in the 3rd quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock valued at $97,000 after buying an additional 2,500 shares in the last quarter. Aigen Investment Management LP bought a new position in Verve Therapeutics in the third quarter valued at about $74,000. Los Angeles Capital Management LLC boosted its position in Verve Therapeutics by 8.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 262,393 shares of the company’s stock worth $1,270,000 after buying an additional 19,925 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Verve Therapeutics by 78.7% during the third quarter. Harbor Capital Advisors Inc. now owns 53,524 shares of the company’s stock worth $259,000 after purchasing an additional 23,565 shares during the period. Finally, US Bancorp DE grew its position in shares of Verve Therapeutics by 1,631.7% in the 3rd quarter. US Bancorp DE now owns 18,806 shares of the company’s stock valued at $91,000 after buying an additional 17,720 shares during the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

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.