HC Wainwright Reaffirms Buy Rating for Verve Therapeutics (NASDAQ:VERV)

HC Wainwright reissued their buy rating on shares of Verve Therapeutics (NASDAQ:VERV) in a research note released on Tuesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other analysts have also recently commented on VERV. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research note on Friday, February 21st. Royal Bank of Canada lowered their target price on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.50.

Verve Therapeutics Stock Performance

VERV opened at $5.28 on Tuesday. Verve Therapeutics has a fifty-two week low of $4.31 and a fifty-two week high of $13.63. The stock has a market cap of $468.84 million, a price-to-earnings ratio of -2.15 and a beta of 1.77. The firm’s fifty day moving average is $6.96 and its 200 day moving average is $6.08.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results 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. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The company had revenue of $13.08 million for the quarter, compared to the consensus estimate of $3.94 million. On average, equities research analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in Verve Therapeutics by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 361,498 shares of the company’s stock valued at $2,039,000 after acquiring an additional 14,469 shares during the last quarter. California State Teachers Retirement System grew its holdings in Verve Therapeutics by 12.5% during the 4th quarter. California State Teachers Retirement System now owns 63,500 shares of the company’s stock valued at $358,000 after purchasing an additional 7,046 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Verve Therapeutics by 81.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 106,356 shares of the company’s stock worth $600,000 after purchasing an additional 47,656 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Verve Therapeutics by 4.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,818 shares of the company’s stock valued at $676,000 after buying an additional 4,777 shares during the period. Finally, Vestal Point Capital LP grew its stake in shares of Verve Therapeutics by 22.9% during the fourth quarter. Vestal Point Capital LP now owns 645,000 shares of the company’s stock valued at $3,638,000 after buying an additional 120,000 shares during the last quarter. 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.