HC Wainwright Lowers Verve Therapeutics (NASDAQ:VERV) Price Target to $14.00

Verve Therapeutics (NASDAQ:VERV) had its price target reduced by HC Wainwright from $15.00 to $14.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on VERV. Canaccord Genuity Group lowered their price objective on shares of Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verve Therapeutics presently has an average rating of “Buy” and a consensus price target of $25.75.

Verve Therapeutics Price Performance

Shares of VERV opened at $6.41 on Wednesday. The firm’s 50 day moving average is $5.47 and its 200-day moving average is $5.69. The stock has a market capitalization of $542.41 million, a P/E ratio of -2.47 and a beta of 1.75. Verve Therapeutics has a 12-month low of $4.30 and a 12-month high of $20.12.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. The company had revenue of $6.87 million for the quarter, compared to analysts’ expectations of $2.75 million. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The business’s revenue was up 120.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.72) EPS. As a group, equities research analysts forecast that Verve Therapeutics will post -2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VERV. Nisa Investment Advisors LLC increased its position in shares of Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock worth $38,000 after acquiring an additional 6,949 shares in the last quarter. Creative Planning acquired a new stake in shares of Verve Therapeutics during the third quarter worth approximately $50,000. PFG Investments LLC acquired a new stake in shares of Verve Therapeutics during the third quarter worth approximately $53,000. Daiwa Securities Group Inc. boosted its holdings in shares of Verve Therapeutics by 89.8% during the second quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company’s stock worth $59,000 after purchasing an additional 5,723 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock worth $73,000 after purchasing an additional 1,778 shares during the period. 97.11% of the stock is owned by hedge funds and other institutional investors.

Verve Therapeutics Company Profile

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.