Verve Therapeutics, Inc. (NASDAQ:VERV) Given Average Recommendation of “Buy” by Analysts

Verve Therapeutics, Inc. (NASDAQ:VERV) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.75.

VERV has been the topic of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Royal Bank of Canada dropped their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Guggenheim raised their price target on Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. HC Wainwright boosted their price objective on Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Cantor Fitzgerald raised shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Verve Therapeutics by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,952 shares of the company’s stock worth $101,000 after buying an additional 1,676 shares during the period. Rhumbline Advisers increased its stake in shares of Verve Therapeutics by 1.9% in the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after acquiring an additional 2,093 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock valued at $111,000 after purchasing an additional 2,669 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Verve Therapeutics by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock valued at $313,000 after acquiring an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Verve Therapeutics by 5.7% in the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock worth $322,000 after buying an additional 3,080 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Stock Up 1.8 %

VERV opened at $4.59 on Friday. The firm has a 50-day moving average price of $5.63 and a 200-day moving average price of $5.91. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $9.31. The company has a market capitalization of $407.57 million, a price-to-earnings ratio of -1.87 and a beta of 1.86.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $13.08 million for the quarter, compared to analysts’ expectations of $3.94 million. On average, sell-side analysts expect that Verve Therapeutics will post -2.49 earnings per share for the current fiscal 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.