Royal Bank of Canada Lowers Verve Therapeutics (NASDAQ:VERV) Price Target to $15.00

Verve Therapeutics (NASDAQ:VERV) had its target price dropped by analysts at Royal Bank of Canada from $17.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 160.87% from the company’s current price.

VERV has been the subject of a number of other reports. HC Wainwright raised their target price on shares of Verve Therapeutics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group increased their target price on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, William Blair restated an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verve Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Verve Therapeutics Price Performance

VERV stock traded down $0.42 on Tuesday, reaching $5.75. The company’s stock had a trading volume of 335,309 shares, compared to its average volume of 1,523,082. Verve Therapeutics has a 52 week low of $4.30 and a 52 week high of $16.05. The company has a market capitalization of $486.82 million, a P/E ratio of -2.35 and a beta of 1.74. The firm has a fifty day moving average of $6.91 and a two-hundred day moving average of $6.03.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.14. The business had revenue of $13.08 million during the quarter, compared to analysts’ expectations of $3.94 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. As a group, equities analysts expect that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

Several hedge funds have recently bought and sold shares of VERV. BVF Inc. IL lifted its position in shares of Verve Therapeutics by 962.2% in the fourth quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after buying an additional 6,254,050 shares during the last quarter. State Street Corp lifted its holdings in Verve Therapeutics by 27.0% in the 3rd quarter. State Street Corp now owns 4,253,217 shares of the company’s stock worth $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock worth $21,372,000 after purchasing an additional 1,382,176 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Verve Therapeutics by 18.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock worth $10,423,000 after purchasing an additional 288,678 shares during the period. Finally, Geode Capital Management LLC grew its stake in Verve Therapeutics by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,625,780 shares of the company’s stock valued at $9,172,000 after buying an additional 25,093 shares during the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

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.