Verve Therapeutics, Inc. (NASDAQ:VERV - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $6.32, but opened at $5.99. Verve Therapeutics shares last traded at $6.11, with a volume of 348,639 shares trading hands.
Wall Street Analysts Forecast Growth
VERV has been the subject of a number of analyst reports. Cantor Fitzgerald raised Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. Canaccord Genuity Group lifted their price target on shares of Verve Therapeutics from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Royal Bank of Canada reduced their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Guggenheim lifted their target price on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, William Blair reissued an "outperform" rating on shares of Verve Therapeutics in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Verve Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $25.75.
Check Out Our Latest Report on Verve Therapeutics
Verve Therapeutics Price Performance
The stock has a market cap of $549.12 million, a price-to-earnings ratio of -2.50 and a beta of 1.67. The firm's 50-day moving average is $4.80 and its 200 day moving average is $5.80.
Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The business had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. On average, sell-side analysts forecast that Verve Therapeutics, Inc. will post -2.49 EPS for the current year.
Hedge Funds Weigh In On Verve Therapeutics
Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Verve Therapeutics by 1.9% in the 4th quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock valued at $627,000 after acquiring an additional 2,093 shares during the period. Arizona State Retirement System raised its stake in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company's stock valued at $111,000 after purchasing an additional 2,669 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Verve Therapeutics by 11.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,690 shares of the company's stock worth $122,000 after purchasing an additional 2,690 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Verve Therapeutics by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company's stock worth $313,000 after purchasing an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Verve Therapeutics by 5.7% in the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company's stock valued at $322,000 after purchasing an additional 3,080 shares during the period. 97.11% of the stock is currently owned by hedge funds and other institutional investors.
Verve Therapeutics Company Profile
(
Get Free Report)
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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