Verve Therapeutics’ (VERV) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Verve Therapeutics (NASDAQ:VERV) in a report published on Tuesday,Benzinga reports. HC Wainwright currently has a $15.00 price target on the stock.

VERV has been the subject of several other research reports. William Blair restated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Royal Bank of Canada lowered 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 analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $25.50.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV opened at $5.28 on Tuesday. Verve Therapeutics has a 1 year low of $4.31 and a 1 year high of $13.63. The company’s 50-day moving average is $6.96 and its 200 day moving average is $6.08. The stock has a market capitalization of $468.84 million, a P/E ratio of -2.15 and a beta of 1.77.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.14. The firm had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Research analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Verve Therapeutics

A number of large investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of Verve Therapeutics in the third quarter worth approximately $165,000. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 126,110 shares during the last quarter. Algert Global LLC grew its position in shares of Verve Therapeutics by 63.1% during the 3rd quarter. Algert Global LLC now owns 224,216 shares of the company’s stock valued at $1,085,000 after acquiring an additional 86,720 shares during the period. FMR LLC increased its stake in shares of Verve Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 1,418,993 shares of the company’s stock worth $6,868,000 after purchasing an additional 3,873 shares in the last quarter. Finally, Acuta Capital Partners LLC bought a new position in Verve Therapeutics in the 3rd quarter worth $707,000. 97.11% of the stock is currently owned by institutional investors.

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.