Verve Therapeutics (NASDAQ:VERV) Given New $24.00 Price Target at Guggenheim

Verve Therapeutics (NASDAQ:VERV) had its price objective raised by Guggenheim from $18.00 to $24.00 in a research note released on Tuesday, MarketBeat reports. Guggenheim currently has a buy rating on the stock.

A number of other brokerages have also weighed in on VERV. Royal Bank of Canada cut their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday. HC Wainwright upped their price target on Verve Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a report on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on Verve Therapeutics from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $4.97 on Tuesday. The firm has a market cap of $441.32 million, a PE ratio of -2.02 and a beta of 1.86. Verve Therapeutics has a 1 year low of $2.86 and a 1 year high of $9.31. The stock has a fifty day moving average price of $5.84 and a 200-day moving average price of $5.92.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Thursday, February 27th. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.14. The firm had revenue of $13.08 million during 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%. As a group, equities analysts anticipate that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

A number of hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Verve Therapeutics by 139.8% in the third quarter. Barclays PLC now owns 222,919 shares of the company’s stock worth $1,079,000 after purchasing an additional 129,944 shares during the last quarter. Norges Bank bought a new stake in shares of Verve Therapeutics in the 4th quarter worth approximately $441,000. State Street Corp increased its stake in shares of Verve Therapeutics by 27.0% during the third quarter. State Street Corp now owns 4,253,217 shares of the company’s stock valued at $20,586,000 after buying an additional 903,809 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Verve Therapeutics by 465.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 42,781 shares of the company’s stock valued at $241,000 after acquiring an additional 35,214 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Verve Therapeutics by 14.7% in the third quarter. Stifel Financial Corp now owns 131,406 shares of the company’s stock worth $636,000 after acquiring an additional 16,842 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.