Brokerages Set Verve Therapeutics, Inc. (NASDAQ:VERV) PT at $25.50

Verve Therapeutics, Inc. (NASDAQ:VERV) has been given an average rating of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $25.50.

A number of analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Guggenheim reaffirmed a “buy” rating on shares of Verve Therapeutics in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Verve Therapeutics in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $5.28 on Tuesday. Verve Therapeutics has a 52 week low of $4.31 and a 52 week high of $13.63. The firm’s 50-day simple moving average is $6.96 and its 200 day simple moving average is $6.08. The firm has a market cap of $468.84 million, a price-to-earnings ratio of -2.15 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Thursday, February 27th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.14. The company had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Sell-side analysts anticipate that Verve Therapeutics will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Verve Therapeutics by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 361,498 shares of the company’s stock worth $2,039,000 after buying an additional 14,469 shares in the last quarter. California State Teachers Retirement System grew its position in Verve Therapeutics by 12.5% during the 4th quarter. California State Teachers Retirement System now owns 63,500 shares of the company’s stock worth $358,000 after acquiring an additional 7,046 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Verve Therapeutics by 81.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 106,356 shares of the company’s stock worth $600,000 after purchasing an additional 47,656 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Verve Therapeutics by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,818 shares of the company’s stock valued at $676,000 after purchasing an additional 4,777 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in shares of Verve Therapeutics by 22.9% during the fourth quarter. Vestal Point Capital LP now owns 645,000 shares of the company’s stock valued at $3,638,000 after purchasing an additional 120,000 shares in the last quarter. 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.