BMO Capital Markets research analysts have begun covering stocks of Therapeutic Verve (NASDAQ: VERV – Get a rating) in a report released Thursday, Fly reports. The brokerage set an “outperform” rating on the stock.
Several other brokerages also commented on VERV. Stifel Nicolaus reduced his price target on Verve Therapeutics from $58.00 to $34.00 in a Monday, March 14 report. Royal Bank of Canada assumed coverage for Verve Therapeutics in a Thursday, Feb. 17, research report. They issued an “outperform” rating and a price target of $42.00 for the company. Two analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $62.33.
Shares of VERV Action traded down $1.15 during Thursday trading hours, hitting $11.14. 68,898 shares of the company were traded, against an average volume of 666,181. The company has a 50-day simple moving average of $15.27 and a two-hundred-day simple moving average of $25.03. Verve Therapeutics has a fifty-two week low of $10.77 and a fifty-two week high of $78.00. The company has a market capitalization of $542.08 million and a P/E ratio of -1.33.
Therapeutic Verve (NASDAQ: VERV – Get a rating) last released its quarterly earnings data on Monday, March 14. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.11). On average, analysts expect Verve Therapeutics to post earnings per share of -2.62 for the current fiscal year.
In related news, the director Burt A. Adelman acquired 10,000 shares of Verve Therapeutics in a transaction dated Thursday, May 12. The shares were acquired at an average cost of $12.15 per share, for a total transaction of $121,500.00. Following the completion of the purchase, the administrator now owns 18,700 shares of the company, valued at $227,205. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink.
Institutional investors have recently changed their stock portfolios. Citigroup Inc. increased its position in Verve Therapeutics by 6,579.0% in the fourth quarter. Citigroup Inc. now owns 121,157 shares of the company valued at $4,467,000 after purchasing an additional 119,343 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings of Verve Therapeutics shares by 1,725.1% in the third quarter. Cubist Systematic Strategies LLC now owns 6,406 shares of the company valued at $301,000 after acquiring an additional 6,055 shares last quarter. Novo Holdings AS increased its holdings of Verve Therapeutics shares by 16.7% in the fourth quarter. Novo Holdings AS now owns 700,000 shares of the company valued at $25,809,000 after acquiring an additional 100,000 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stock position in Verve Therapeutics in the third quarter worth approximately $396,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Verve Therapeutics during the fourth quarter worth approximately $647,000. Hedge funds and other institutional investors hold 75.46% of the company’s shares.
Verve Therapeutics Company Profile (Get a rating)
Verve Therapeutics, Inc, a genetic drug company, engages in the development of gene-editing drugs for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a one-course gene-editing treatment that permanently disables the PCSK9 gene in the liver. The company is also engaged in the development of the ANGPTL3 program to permanently disable the ANGPTL3 gene in the liver.
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