Verve Therapeutics (NASDAQ:VERV) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Verve Therapeutics (NASDAQ:VERV - Free Report) had its target price boosted by Canaccord Genuity Group from $32.00 to $39.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Guggenheim reissued a "buy" rating on shares of Verve Therapeutics in a report on Tuesday, March 25th. HC Wainwright lifted their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. William Blair reissued an "outperform" rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $25.75.

Verve Therapeutics Stock Performance

VERV stock traded up $0.08 during trading on Tuesday, reaching $4.59. 2,590,118 shares of the company traded hands, compared to its average volume of 1,710,185. The company has a market capitalization of $407.57 million, a price-to-earnings ratio of -1.87 and a beta of 1.86. The business has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $5.92. Verve Therapeutics has a 12 month low of $2.86 and a 12 month high of $9.31.

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

Hedge Funds Weigh In On Verve Therapeutics

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Verve Therapeutics by 189.7% during the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company's stock worth $34,000 after acquiring an additional 3,964 shares during the period. KFG Wealth Management LLC acquired a new stake in shares of Verve Therapeutics during the 1st quarter worth approximately $46,000. IFP Advisors Inc increased its holdings in shares of Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock valued at $47,000 after purchasing an additional 8,237 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics during the 4th quarter valued at approximately $50,000. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Verve Therapeutics in the 4th quarter valued at $70,000. Hedge funds and other institutional investors 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.