Guggenheim Reiterates Buy Rating for Verve Therapeutics (NASDAQ:VERV)

Verve Therapeutics (NASDAQ:VERV)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued to clients and investors on Tuesday,Benzinga reports.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Verve Therapeutics in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.50.

Verve Therapeutics Stock Performance

Shares of Verve Therapeutics stock traded down $0.27 during trading hours on Tuesday, hitting $5.51. The company’s stock had a trading volume of 149,502 shares, compared to its average volume of 1,421,327. The stock has a market cap of $489.27 million, a price-to-earnings ratio of -2.24 and a beta of 1.77. Verve Therapeutics has a twelve month low of $4.31 and a twelve month high of $13.63. The firm has a fifty day moving average of $6.96 and a 200-day moving average of $6.09.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly 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. 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 analyst estimates 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.

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Verve Therapeutics by 189.7% in the 4th quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock valued at $34,000 after purchasing an additional 3,964 shares in the last quarter. IFP Advisors Inc lifted its position in Verve Therapeutics by 823,700.0% during the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after buying an additional 8,237 shares during the period. BNP Paribas Financial Markets purchased a new stake in Verve Therapeutics in the fourth quarter valued at approximately $50,000. Erste Asset Management GmbH purchased a new position in shares of Verve Therapeutics in the 3rd quarter worth $56,000. Finally, Impact Partnership Wealth LLC purchased a new position in Verve Therapeutics in the fourth quarter valued at approximately $70,000. Hedge funds and other 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.