Canaccord Genuity Group Forecasts Strong Price Appreciation for Verve Therapeutics (NASDAQ:VERV) Stock

Verve Therapeutics (NASDAQ:VERV) had its price objective boosted by analysts at Canaccord Genuity Group from $32.00 to $39.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other brokerages also recently weighed in on VERV. 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. Guggenheim reaffirmed a “buy” rating on shares of Verve Therapeutics in a report on Tuesday, March 25th. HC Wainwright upped their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday. Finally, William Blair restated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $25.75.

Verve Therapeutics Trading Down 9.3 %

Shares of NASDAQ:VERV opened at $4.51 on Tuesday. The stock has a market cap of $400.47 million, a P/E ratio of -1.83 and a beta of 1.86. Verve Therapeutics has a 12 month low of $2.86 and a 12 month high of $9.31. The company has a 50 day moving average of $5.76 and a 200 day moving average of $5.91.

Verve Therapeutics (NASDAQ:VERV) last announced 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 business had revenue of $13.08 million for the quarter, compared to analyst estimates of $3.94 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. On average, equities analysts forecast that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Verve Therapeutics by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,041 shares of the company’s stock worth $557,000 after buying an additional 6,595 shares during the period. Verition Fund Management LLC bought a new position in Verve Therapeutics during the 3rd quarter worth approximately $139,000. Stifel Financial Corp increased its stake in Verve Therapeutics by 14.7% in the 3rd quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock worth $636,000 after purchasing an additional 16,842 shares during the period. State Street Corp lifted its position in Verve Therapeutics by 27.0% in the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after purchasing an additional 903,809 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Verve Therapeutics by 27.3% during the third quarter. Public Employees Retirement System of Ohio now owns 58,700 shares of the company’s stock valued at $284,000 after purchasing an additional 12,600 shares during the period. 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.