Analysts Set Verve Therapeutics, Inc. (NASDAQ:VERV) Price Target at $33.00

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $33.00.

A number of research firms have recently weighed in on VERV. HC Wainwright began coverage on Verve Therapeutics in a report on Monday, April 8th. They set a “buy” rating and a $15.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Finally, Stifel Nicolaus lowered their price target on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

Hedge Funds Weigh In On Verve Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Verve Therapeutics by 8.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,592,198 shares of the company’s stock valued at $34,424,000 after buying an additional 194,594 shares during the period. Green Alpha Advisors LLC raised its position in shares of Verve Therapeutics by 11.5% during the 1st quarter. Green Alpha Advisors LLC now owns 24,940 shares of the company’s stock worth $331,000 after acquiring an additional 2,574 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Verve Therapeutics during the 4th quarter worth about $30,000. Nomura Holdings Inc. raised its position in shares of Verve Therapeutics by 5.0% during the 4th quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after acquiring an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Verve Therapeutics during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Stock Down 4.4 %

Shares of VERV opened at $6.58 on Thursday. Verve Therapeutics has a 52-week low of $6.42 and a 52-week high of $21.42. The company has a market capitalization of $550.22 million, a PE ratio of -2.11 and a beta of 1.70. The stock has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $12.25.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.14. The business had revenue of $5.14 million during the quarter, compared to the consensus estimate of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. As a group, equities analysts anticipate that Verve Therapeutics will post -2.92 earnings per share for the current fiscal year.

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.