Guggenheim Reaffirms “Buy” Rating for Verve Therapeutics (NASDAQ:VERV)

Guggenheim restated their buy rating on shares of Verve Therapeutics (NASDAQ:VERV) in a report published on Tuesday,Benzinga reports.

A number of other research analysts have also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a research note on Tuesday. Finally, Royal Bank of Canada reduced their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Verve Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $25.50.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $5.84 on Tuesday. The company has a market cap of $518.57 million, a price-to-earnings ratio of -2.37 and a beta of 1.77. Verve Therapeutics has a fifty-two week low of $4.31 and a fifty-two week high of $13.63. The stock has a fifty day moving average price of $6.98 and a 200-day moving average price of $6.09.

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. The business had revenue of $13.08 million during the quarter, compared to analysts’ expectations 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 predict that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in Verve Therapeutics in the third quarter valued at about $165,000. Charles Schwab Investment Management Inc. increased its stake in shares of Verve Therapeutics by 28.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock valued at $2,769,000 after buying an additional 126,110 shares during the period. Algert Global LLC raised its holdings in Verve Therapeutics by 63.1% in the 3rd quarter. Algert Global LLC now owns 224,216 shares of the company’s stock valued at $1,085,000 after buying an additional 86,720 shares during the last quarter. FMR LLC boosted its position in Verve Therapeutics by 0.3% during the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock worth $6,868,000 after buying an additional 3,873 shares during the period. Finally, Acuta Capital Partners LLC bought a new stake in Verve Therapeutics during the 3rd quarter worth approximately $707,000. 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.