Brokerages Set Verve Therapeutics, Inc. (NASDAQ:VERV) PT at $33.00

Verve Therapeutics, Inc. (NASDAQ:VERV) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $33.00.

VERV has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Verve Therapeutics in a report on Thursday, May 9th. Stifel Nicolaus cut their price objective on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd.

Verve Therapeutics Stock Up 2.8 %

NASDAQ:VERV opened at $5.14 on Tuesday. Verve Therapeutics has a 52 week low of $4.59 and a 52 week high of $21.04. The company has a market capitalization of $431.55 million, a P/E ratio of -1.79 and a beta of 1.83. The stock’s fifty day moving average is $5.55 and its two-hundred day moving average is $9.94.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.11. The firm had revenue of $5.70 million for the quarter, compared to the consensus estimate of $2.11 million. Verve Therapeutics had a negative return on equity of 37.35% and a negative net margin of 1,226.51%. The business’s quarterly revenue was up 305.6% compared to the same quarter last year. Sell-side analysts anticipate that Verve Therapeutics will post -2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andrew D. Ashe purchased 76,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $6.26 per share, for a total transaction of $475,760.00. Following the acquisition, the insider now directly owns 342,509 shares in the company, valued at $2,144,106.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verve Therapeutics

Several large investors have recently bought and sold shares of the stock. Nomura Holdings Inc. increased its holdings in 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 purchasing an additional 900 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Verve Therapeutics by 35.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,772 shares of the company’s stock worth $94,000 after acquiring an additional 1,759 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in shares of Verve Therapeutics by 13.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 16,378 shares of the company’s stock worth $228,000 after acquiring an additional 1,981 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics during the 4th quarter worth about $29,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

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.