Verve Therapeutics, Inc. (NASDAQ:VERV) Receives Average Recommendation of "Buy" from Brokerages

Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) has received a consensus rating of "Buy" from the six analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.50.

VERV has been the topic of several analyst reports. Royal Bank of Canada dropped their target price on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Guggenheim restated a "buy" rating on shares of Verve Therapeutics in a research note on Tuesday. Finally, HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Verve Therapeutics in a research note on Tuesday.

Verve Therapeutics Stock Performance

Shares of Verve Therapeutics stock traded down $0.06 during trading on Tuesday, hitting $5.22. The company's stock had a trading volume of 585,375 shares, compared to its average volume of 1,450,618. Verve Therapeutics has a 52 week low of $4.31 and a 52 week high of $13.24. The company has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $6.08. The company has a market capitalization of $463.52 million, a PE ratio of -2.12 and a beta of 1.77.

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Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.14. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The firm had revenue of $13.08 million during the quarter, compared to analyst estimates of $3.94 million. As a group, analysts predict that Verve Therapeutics will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BVF Inc. IL raised its holdings in shares of Verve Therapeutics by 962.2% during the fourth quarter. BVF Inc. IL now owns 6,904,050 shares of the company's stock valued at $38,939,000 after purchasing an additional 6,254,050 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Verve Therapeutics during the 4th quarter valued at $7,863,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Verve Therapeutics by 57.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company's stock valued at $21,372,000 after buying an additional 1,382,176 shares during the period. State Street Corp boosted its stake in shares of Verve Therapeutics by 27.0% in the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company's stock worth $20,586,000 after buying an additional 903,809 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Verve Therapeutics by 72.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,559,393 shares of the company's stock worth $7,547,000 after acquiring an additional 653,578 shares during the period. Institutional investors own 97.11% of the company's stock.

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.