Brokerages Set Verve Therapeutics, Inc. (NASDAQ:VERV) Price Target at $33.00

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.00.

A number of equities analysts recently issued reports on VERV shares. Stifel Nicolaus dropped their price objective on shares of Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. HC Wainwright reissued a "buy" rating and issued a $15.00 price objective on shares of Verve Therapeutics in a report on Thursday, May 9th.

Insider Buying and Selling at Verve Therapeutics

In related news, insider Andrew D. Ashe acquired 76,000 shares of Verve Therapeutics stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $6.26 per share, for a total transaction of $475,760.00. Following the completion of the transaction, the insider now directly owns 342,509 shares in the company, valued at approximately $2,144,106.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Verve Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Verve Therapeutics by 18.1% during the third quarter. Vanguard Group Inc. now owns 4,832,968 shares of the company's stock valued at $64,085,000 after buying an additional 741,753 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Verve Therapeutics by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,670 shares of the company's stock worth $5,153,000 after purchasing an additional 6,626 shares during the last quarter. PBCay One RSC Ltd bought a new stake in Verve Therapeutics in the fourth quarter worth $96,000. ARK Investment Management LLC increased its position in Verve Therapeutics by 35.1% in the fourth quarter. ARK Investment Management LLC now owns 7,025,116 shares of the company's stock worth $97,930,000 after purchasing an additional 1,824,549 shares during the last quarter. Finally, Swiss National Bank increased its position in Verve Therapeutics by 13.9% in the fourth quarter. Swiss National Bank now owns 108,500 shares of the company's stock worth $1,512,000 after purchasing an additional 13,200 shares during the last quarter. Institutional investors own 97.11% of the company's stock.

Verve Therapeutics Price Performance

Shares of VERV traded up $0.02 on Tuesday, reaching $5.00. The company's stock had a trading volume of 1,188,311 shares, compared to its average volume of 1,306,713. The stock has a market capitalization of $419.80 million, a P/E ratio of -1.74 and a beta of 1.83. The stock's 50 day simple moving average is $5.60 and its two-hundred day simple moving average is $10.01. Verve Therapeutics has a 12-month low of $4.59 and a 12-month high of $21.04.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.70) by $0.11. The company had revenue of $5.70 million for the quarter, compared to the consensus estimate of $2.11 million. Verve Therapeutics had a negative net margin of 1,226.51% and a negative return on equity of 37.35%. The company's revenue was up 305.6% on a year-over-year basis. Analysts expect that Verve Therapeutics will post -2.73 earnings per share for the current year.

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.