Verve Therapeutics (NASDAQ:VERV) Price Target Lowered to $17.00 at Royal Bank of Canada

by · The Markets Daily

Verve Therapeutics (NASDAQ:VERV – Free Report) had its price target trimmed by Royal Bank of Canada from $20.00 to $17.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the company. HC Wainwright decreased their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group decreased their target price on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $25.75.

View Our Latest Research Report on VERV

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock opened at $6.41 on Wednesday. The stock has a market cap of $542.41 million, a price-to-earnings ratio of -2.47 and a beta of 1.75. The firm’s 50-day moving average is $5.47 and its 200 day moving average is $5.69. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $20.12.

Verve Therapeutics (NASDAQ:VERV – Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. Verve Therapeutics had a negative return on equity of 35.20% and a negative net margin of 933.08%. The business had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. During the same quarter in the previous year, the firm earned ($0.72) EPS. Verve Therapeutics’s revenue was up 120.2% on a year-over-year basis. On average, equities analysts expect that Verve Therapeutics will post -2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Verve Therapeutics by 52.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,795 shares of the company’s stock worth $2,449,000 after acquiring an additional 59,034 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Verve Therapeutics in the 1st quarter worth approximately $191,000. ProShare Advisors LLC boosted its stake in Verve Therapeutics by 31.0% in the 1st quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock worth $235,000 after purchasing an additional 4,184 shares during the period. Vanguard Group Inc. boosted its stake in Verve Therapeutics by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after purchasing an additional 859,382 shares during the period. Finally, American International Group Inc. boosted its stake in Verve Therapeutics by 25.1% in the 1st quarter. American International Group Inc. now owns 32,468 shares of the company’s stock worth $431,000 after purchasing an additional 6,517 shares during the period. Hedge funds and other institutional investors own 97.11% of the company’s stock.

About Verve Therapeutics

(Get Free Report)

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.

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