Verve Therapeutics, Inc. (NASDAQ:VERV) Given Consensus Rating of "Buy" by Analysts

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report) have earned a consensus rating of "Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.75.

VERV has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. HC Wainwright raised their price objective on Verve Therapeutics from $15.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. William Blair restated an "outperform" rating on shares of Verve Therapeutics in a report on Friday, February 21st. Wall Street Zen raised Verve Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Canaccord Genuity Group upped their target price on Verve Therapeutics from $32.00 to $39.00 and gave the company a "buy" rating in a report on Tuesday, April 15th.

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERV. Acadian Asset Management LLC lifted its holdings in shares of Verve Therapeutics by 126.2% in the first quarter. Acadian Asset Management LLC now owns 30,803 shares of the company's stock valued at $140,000 after purchasing an additional 17,186 shares in the last quarter. Woodline Partners LP acquired a new position in Verve Therapeutics during the first quarter valued at $12,648,000. Goldman Sachs Group Inc. lifted its stake in Verve Therapeutics by 90.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,413,118 shares of the company's stock worth $6,458,000 after acquiring an additional 671,939 shares in the last quarter. AQR Capital Management LLC lifted its stake in Verve Therapeutics by 1,028.7% in the 1st quarter. AQR Capital Management LLC now owns 373,207 shares of the company's stock worth $1,706,000 after acquiring an additional 340,143 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in Verve Therapeutics during the 1st quarter worth about $57,000. 97.11% of the stock is currently owned by hedge funds and other institutional investors.

Verve Therapeutics Stock Up 8.2%

Shares of VERV stock opened at $6.20 on Friday. The stock has a 50-day simple moving average of $4.52 and a 200 day simple moving average of $5.76. Verve Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $9.31. The stock has a market capitalization of $552.69 million, a P/E ratio of -2.52 and a beta of 1.67.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. The company had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. On average, sell-side analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current year.

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.

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