Verve Therapeutics (NASDAQ:VERV) Stock Rating Reaffirmed by HC Wainwright

Verve Therapeutics (NASDAQ:VERV)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 135.85% from the stock’s current price.

Several other research firms have also commented on VERV. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Verve Therapeutics in a report on Wednesday, February 28th. Stifel Nicolaus decreased their price target on shares of Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Verve Therapeutics Stock Performance

Verve Therapeutics stock traded up $0.28 during trading hours on Thursday, hitting $6.36. The company had a trading volume of 1,953,075 shares, compared to its average volume of 1,222,420. The company has a 50-day moving average price of $10.31 and a two-hundred day moving average price of $11.89. Verve Therapeutics has a 1 year low of $5.84 and a 1 year high of $21.42. The firm has a market cap of $533.73 million, a P/E ratio of -2.03 and a beta of 1.94.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Wednesday, May 8th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.11. The business had revenue of $5.70 million during the quarter, compared to analysts’ expectations of $2.11 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The firm’s quarterly revenue was up 305.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Verve Therapeutics will post -2.92 EPS for the current year.

Institutional Investors Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VERV. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Verve Therapeutics by 5.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,479 shares of the company’s stock worth $219,000 after acquiring an additional 871 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Verve Therapeutics by 5.0% in the 4th quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock valued at $266,000 after acquiring an additional 900 shares during the last quarter. Arizona State Retirement System grew its position in Verve Therapeutics by 9.3% during the 3rd quarter. Arizona State Retirement System now owns 12,343 shares of the company’s stock worth $164,000 after purchasing an additional 1,054 shares during the period. Teacher Retirement System of Texas raised its position in Verve Therapeutics by 10.8% during the third quarter. Teacher Retirement System of Texas now owns 12,058 shares of the company’s stock valued at $160,000 after acquiring an additional 1,174 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Verve Therapeutics by 11.6% during the 3rd quarter. E Fund Management Co. Ltd. now owns 14,397 shares of the company’s stock valued at $191,000 after purchasing an additional 1,499 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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.