Shares of Verve Therapeutics, Inc. (NASDAQ:VERV – Get Rating) have been assigned an average recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $40.00.
Several brokerages have issued reports on VERV. Cantor Fitzgerald began coverage on Verve Therapeutics in a research report on Wednesday. They issued a "neutral" rating and a $21.00 target price on the stock. Royal Bank of Canada dropped their target price on Verve Therapeutics from $42.00 to $35.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 8th. The Goldman Sachs Group began coverage on Verve Therapeutics in a research report on Thursday, December 15th. They issued a "sell" rating and a $13.00 target price on the stock. Finally, Credit Suisse Group dropped their target price on Verve Therapeutics to $37.00 in a research report on Tuesday, November 15th.
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Shares of NASDAQ VERV opened at $23.29 on Wednesday. Verve Therapeutics has a twelve month low of $10.70 and a twelve month high of $43.00. The firm has a market cap of $1.43 billion, a P/E ratio of -8.03 and a beta of 1.54. The company has a 50 day moving average of $21.14 and a 200 day moving average of $28.48.
Verve Therapeutics (NASDAQ:VERV – Get Rating) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.04). The firm had revenue of $0.93 million during the quarter, compared to analysts' expectations of $5.00 million. As a group, equities analysts expect that Verve Therapeutics will post -3.02 earnings per share for the current fiscal year.Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in VERV. Swiss National Bank lifted its position in shares of Verve Therapeutics by 8.1% during the 1st quarter. Swiss National Bank now owns 39,900 shares of the company's stock valued at $911,000 after buying an additional 3,000 shares in the last quarter. ProShare Advisors LLC raised its stake in Verve Therapeutics by 15.6% during the 1st quarter. ProShare Advisors LLC now owns 11,817 shares of the company's stock valued at $270,000 after purchasing an additional 1,595 shares during the period. Bank of New York Mellon Corp raised its stake in Verve Therapeutics by 46.3% during the 1st quarter. Bank of New York Mellon Corp now owns 115,787 shares of the company's stock valued at $2,642,000 after purchasing an additional 36,652 shares during the period. MetLife Investment Management LLC raised its stake in Verve Therapeutics by 260.1% during the 1st quarter. MetLife Investment Management LLC now owns 20,938 shares of the company's stock valued at $478,000 after purchasing an additional 15,124 shares during the period. Finally, Rhumbline Advisers raised its stake in Verve Therapeutics by 107.5% during the 1st quarter. Rhumbline Advisers now owns 36,980 shares of the company's stock valued at $844,000 after purchasing an additional 19,156 shares during the period. 98.52% of the stock is owned by hedge funds and other institutional investors.
About Verve Therapeutics
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Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.
Further Reading
- Get a free copy of the StockNews.com research report on Verve Therapeutics (VERV)
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