Verve Therapeutics (NASDAQ:VERV) Given “Buy” Rating at Guggenheim

Verve Therapeutics (NASDAQ:VERV)‘s stock had its “buy” rating reissued by Guggenheim in a research note issued on Tuesday,Benzinga reports.

A number of other analysts have also issued reports on VERV. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Verve Therapeutics in a report on Tuesday. 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 report on Tuesday, March 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verve Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $25.50.

Verve Therapeutics Stock Performance

Shares of VERV traded down $0.27 during midday trading on Tuesday, hitting $5.51. 149,502 shares of the company traded hands, compared to its average volume of 1,421,327. Verve Therapeutics has a 52 week low of $4.31 and a 52 week high of $13.63. The firm has a 50 day moving average of $6.96 and a 200-day moving average of $6.09. 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 (NASDAQ:VERV) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. The company had revenue of $13.08 million during the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Sell-side analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors have recently added to or reduced their stakes in VERV. Intech Investment Management LLC purchased a new position in shares of Verve Therapeutics in the 3rd quarter valued at approximately $165,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Verve Therapeutics by 28.3% during the third 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 during the period. Algert Global LLC grew its holdings in shares of Verve Therapeutics by 63.1% during the third quarter. Algert Global LLC now owns 224,216 shares of the company’s stock valued at $1,085,000 after buying an additional 86,720 shares during the last quarter. FMR LLC grew its holdings in Verve Therapeutics by 0.3% during the third quarter. FMR LLC now owns 1,418,993 shares of the company’s stock worth $6,868,000 after acquiring an additional 3,873 shares during the period. Finally, Acuta Capital Partners LLC acquired a new position in shares of Verve Therapeutics in the third quarter worth about $707,000. Institutional investors and hedge funds 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.