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

Verve Therapeutics (NASDAQ:VERV - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright's target price points to a potential upside of 135.85% from the stock's previous close.

A number of other research analysts have also commented on VERV. Stifel Nicolaus cut their target price on Verve Therapeutics from $56.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 target price on shares of Verve Therapeutics in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Verve Therapeutics Stock Performance

Shares of VERV traded up $0.28 during mid-day trading on Thursday, hitting $6.36. The company's stock had a trading volume of 1,956,089 shares, compared to its average volume of 1,226,197. Verve Therapeutics has a one year low of $5.84 and a one year high of $21.42. The firm has a market capitalization of $533.73 million, a PE ratio of -2.04 and a beta of 1.94. The stock's 50-day moving average is $10.10 and its two-hundred day moving average is $11.85.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.59) EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.11. The business had revenue of $5.70 million during the quarter, compared to analyst estimates of $2.11 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%. The firm's revenue was up 305.6% compared to the same quarter last year. Analysts expect that Verve Therapeutics will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Verve Therapeutics by 5.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,479 shares of the company's stock valued at $219,000 after buying an additional 871 shares in the last quarter. Nomura Holdings Inc. increased its stake in shares of Verve Therapeutics by 5.0% in the fourth quarter. Nomura Holdings Inc. now owns 19,076 shares of the company's stock valued at $266,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Verve Therapeutics by 9.3% in the third quarter. Arizona State Retirement System now owns 12,343 shares of the company's stock valued at $164,000 after buying an additional 1,054 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Verve Therapeutics by 10.8% in the third quarter. Teacher Retirement System of Texas now owns 12,058 shares of the company's stock valued at $160,000 after buying an additional 1,174 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its stake in shares of Verve Therapeutics by 11.6% in the third quarter. E Fund Management Co. Ltd. now owns 14,397 shares of the company's stock valued at $191,000 after buying an additional 1,499 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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.