Verve Therapeutics (NASDAQ:VERV) Given New $25.00 Price Target at HC Wainwright

Verve Therapeutics (NASDAQ:VERV) had its price target boosted by research analysts at HC Wainwright from $15.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim restated a “buy” rating on shares of Verve Therapeutics in a research note on Tuesday, March 25th. William Blair reissued an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Finally, Royal Bank of Canada cut their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.00.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock traded up $0.76 during trading on Monday, hitting $4.02. 24,531,360 shares of the stock were exchanged, compared to its average volume of 1,912,368. The firm’s 50-day moving average price is $5.99 and its 200 day moving average price is $5.93. The stock has a market cap of $356.96 million, a price-to-earnings ratio of -1.63 and a beta of 1.86. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $9.31.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts forecast that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Verve Therapeutics

Several large investors have recently modified their holdings of the stock. BVF Inc. IL grew its position in Verve Therapeutics by 962.2% in the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock valued at $38,939,000 after buying an additional 6,254,050 shares during the last quarter. State Street Corp increased its stake in shares of Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after acquiring an additional 903,809 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock worth $21,372,000 after acquiring an additional 1,382,176 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Verve Therapeutics by 18.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock worth $10,423,000 after purchasing an additional 288,678 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Verve Therapeutics by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company’s stock valued at $9,172,000 after purchasing an additional 25,093 shares during the period. 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.