HC Wainwright Begins Coverage on Verve Therapeutics (NASDAQ:VERV)

Analysts at HC Wainwright assumed coverage on shares of Verve Therapeutics (NASDAQ:VERV - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $15.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 78.57% from the stock's current price.

A number of other equities research analysts have also weighed in on VERV. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price objective on shares of Verve Therapeutics in a report on Wednesday, February 28th. Stifel Nicolaus dropped their price objective on shares of Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Verve Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $32.43.

Verve Therapeutics Price Performance

NASDAQ VERV traded down $0.12 on Monday, hitting $8.40. The stock had a trading volume of 1,034,407 shares, compared to its average volume of 1,251,360. The business's fifty day moving average price is $12.98 and its 200 day moving average price is $12.68. Verve Therapeutics has a 52-week low of $7.36 and a 52-week high of $21.42. The stock has a market cap of $702.40 million, a price-to-earnings ratio of -2.69 and a beta of 1.70.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.14. The firm had revenue of $5.14 million for the quarter, compared to analyst estimates of $3.95 million. Verve Therapeutics had a negative net margin of 1,701.70% and a negative return on equity of 39.33%. As a group, sell-side analysts anticipate that Verve Therapeutics will post -3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VERV. PNC Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics in the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Verve Therapeutics in the fourth quarter worth about $30,000. Quest Partners LLC acquired a new position in shares of Verve Therapeutics in the fourth quarter worth about $34,000. Amundi acquired a new position in shares of Verve Therapeutics in the fourth quarter worth about $45,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Verve Therapeutics in the first quarter worth about $46,000. Institutional investors and hedge funds 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.