William Blair Reaffirms “Outperform” Rating for Verve Therapeutics (NASDAQ:VERV)

Verve Therapeutics (NASDAQ:VERV)‘s stock had its “outperform” rating reissued by investment analysts at William Blair in a report released on Friday,RTT News reports.

Several other research firms have also commented on VERV. HC Wainwright lowered their price objective on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group raised their price objective on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV traded down $0.55 during midday trading on Friday, hitting $7.28. The company’s stock had a trading volume of 1,176,519 shares, compared to its average volume of 1,557,203. The business’s fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $5.96. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $19.34. The firm has a market capitalization of $616.32 million, a price-to-earnings ratio of -2.96 and a beta of 1.74.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Verve Therapeutics by 189.7% in the fourth quarter. GAMMA Investing LLC now owns 6,054 shares of the company’s stock worth $34,000 after acquiring an additional 3,964 shares during the last quarter. IFP Advisors Inc lifted its stake in Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after acquiring an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Verve Therapeutics in the fourth quarter worth approximately $50,000. Creative Planning purchased a new position in Verve Therapeutics in the third quarter worth approximately $50,000. Finally, PFG Investments LLC purchased a new position in Verve Therapeutics in the third quarter worth approximately $53,000. 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.