Verve Therapeutics' (VERV) Market Perform Rating Reiterated at William Blair

Verve Therapeutics (NASDAQ:VERV - Get Free Report)'s stock had its "market perform" rating reaffirmed by stock analysts at William Blair in a research note issued to investors on Tuesday,Benzinga reports.

A number of other brokerages have also issued reports on VERV. Wall Street Zen raised shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald raised Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $13.00 target price (down previously from $39.00) on shares of Verve Therapeutics in a research note on Tuesday. Royal Bank of Canada reduced 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 note on Tuesday, March 4th. Finally, Guggenheim lifted their target price on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.25.

Verve Therapeutics Trading Up 76.5%

NASDAQ:VERV traded up $4.80 during trading hours on Tuesday, hitting $11.07. 52,045,487 shares of the stock were exchanged, compared to its average volume of 2,199,386. Verve Therapeutics has a 52-week low of $2.86 and a 52-week high of $12.90. The company has a market cap of $986.37 million, a P/E ratio of -4.50 and a beta of 1.67. The firm's fifty day moving average price is $4.86 and its 200 day moving average price is $5.80.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.71) by $0.36. The business had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Equities analysts expect that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Verve Therapeutics

A number of large investors have recently bought and sold shares of the company. BVF Inc. IL grew its holdings in Verve Therapeutics by 962.2% during the fourth quarter. BVF Inc. IL now owns 6,904,050 shares of the company's stock worth $38,939,000 after acquiring an additional 6,254,050 shares during the period. Woodline Partners LP purchased a new stake in shares of Verve Therapeutics in the first quarter valued at $12,648,000. Point72 Asset Management L.P. acquired a new stake in shares of Verve Therapeutics during the fourth quarter valued at $7,863,000. Schonfeld Strategic Advisors LLC increased its position in Verve Therapeutics by 57.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company's stock worth $21,372,000 after purchasing an additional 1,382,176 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Verve Therapeutics in the 1st quarter valued at about $6,054,000. Hedge funds and other institutional investors 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.

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