Canaccord Genuity Group Issues Positive Forecast for Verve Therapeutics (NASDAQ:VERV) Stock Price

Verve Therapeutics (NASDAQ:VERV) had its target price boosted by Canaccord Genuity Group from $29.00 to $32.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday. HC Wainwright reduced 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 note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $25.75.

Verve Therapeutics Stock Performance

Shares of Verve Therapeutics stock opened at $6.31 on Wednesday. The company has a market capitalization of $534.20 million, a P/E ratio of -2.57 and a beta of 1.75. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $19.34. The company’s fifty day moving average is $5.48 and its two-hundred day moving average is $5.68.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping 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 35.23% and a negative net margin of 807.65%. The business’s revenue was up 120.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.72) earnings per share. As a group, equities analysts expect that Verve Therapeutics will post -2.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VERV. Intech Investment Management LLC acquired a new stake in Verve Therapeutics in the third quarter valued at $165,000. Accredited Investors Inc. boosted its holdings in Verve Therapeutics by 14.3% during the third quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock worth $97,000 after buying an additional 2,500 shares in the last quarter. Aigen Investment Management LP acquired a new position in Verve Therapeutics during the third quarter worth about $74,000. Los Angeles Capital Management LLC increased its holdings in Verve Therapeutics by 8.2% in the third quarter. Los Angeles Capital Management LLC now owns 262,393 shares of the company’s stock valued at $1,270,000 after buying an additional 19,925 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Verve Therapeutics by 78.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 53,524 shares of the company’s stock valued at $259,000 after acquiring an additional 23,565 shares during the period. 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.