Verve Therapeutics (NASDAQ:VERV) Price Target Cut to $15.00 by Analysts at Royal Bank of Canada

Verve Therapeutics (NASDAQ:VERV) had its price objective decreased by Royal Bank of Canada from $17.00 to $15.00 in a report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on VERV. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Canaccord Genuity Group lifted their target price on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright lifted their target price on Verve Therapeutics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $25.50.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $6.12 on Tuesday. The business has a fifty day simple moving average of $6.92 and a two-hundred day simple moving average of $6.04. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $16.05. The company has a market capitalization of $518.14 million, a price-to-earnings ratio of -2.49 and a beta of 1.74.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly 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 return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. As a group, equities analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Verve Therapeutics by 189.7% in the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock worth $34,000 after purchasing an additional 3,964 shares during the period. IFP Advisors Inc grew its position in Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after acquiring an additional 8,237 shares during the last quarter. Creative Planning bought a new position in Verve Therapeutics in the third quarter valued at about $50,000. BNP Paribas Financial Markets bought a new position in Verve Therapeutics in the fourth quarter valued at about $50,000. Finally, Erste Asset Management GmbH bought a new position in Verve Therapeutics in the third quarter valued at about $56,000. 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.