HC Wainwright Issues Positive Forecast for Verve Therapeutics (NASDAQ:VERV) Stock Price

Verve Therapeutics (NASDAQ:VERV) had its price objective raised by HC Wainwright from $14.00 to $15.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on the company. Royal Bank of Canada decreased their price target on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, William Blair restated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verve Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $26.00.

Verve Therapeutics Price Performance

Shares of VERV opened at $6.33 on Friday. The stock has a market capitalization of $535.92 million, a price-to-earnings ratio of -2.57 and a beta of 1.74. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $19.34. The business’s 50 day simple moving average is $6.90 and its 200-day simple moving average is $6.00.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, beating 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 company had revenue of $13.08 million for 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 year.

Institutional Trading of Verve Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in Verve Therapeutics by 139.8% in the third quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after purchasing an additional 129,944 shares during the period. State Street Corp grew its position in shares of Verve Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after buying an additional 903,809 shares in the last quarter. Braidwell LP bought a new position in shares of Verve Therapeutics during the 3rd quarter worth $3,020,000. Charles Schwab Investment Management Inc. grew its position in shares of Verve Therapeutics by 28.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,173 shares of the company’s stock worth $2,769,000 after buying an additional 126,110 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Verve Therapeutics by 465.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock worth $241,000 after buying an additional 35,214 shares in the last quarter. 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.