For Verve Therapeutics Inc [VERV], Analyst sees a rise to $29. What next?

MAR Stock

Verve Therapeutics Inc [NASDAQ: VERV] loss -34.95% or -4.47 points to close at $8.32 with a heavy trading volume of 10013678 shares. The company report on April 2, 2024 at 7:00 AM that Verve Therapeutics Announces Updates on its PCSK9 Program.

Heart-1 clinical trial demonstrated LDL-C reduction of up to 73% at 0.45 mg/kg of VERVE-101.

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Company to pause enrollment in Heart-1 clinical trial following asymptomatic Grade 3 transient ALT elevation and thrombocytopenia seen in the sixth participant enrolled in 0.45 mg/kg dose cohort.

The daily chart for VERV points out that the company has recorded -37.25% loss over the past six months.

If we look at the average trading volume of 1.08M shares, VERV reached to a volume of 10013678 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Verve Therapeutics Inc [VERV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VERV shares is $48.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VERV stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Verve Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 13, 2023. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on February 01, 2023, representing the official price target for Verve Therapeutics Inc stock. Previously, the target price had yet another raise to $13, while Goldman analysts kept a Sell rating on VERV stock.

The Average True Range (ATR) for Verve Therapeutics Inc is set at 1.21, with the Price to Sales ratio for VERV stock in the period of the last 12 months amounting to 55.57. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 7.94.

Trading performance analysis for VERV stock

Verve Therapeutics Inc [VERV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.78. With this latest performance, VERV shares dropped by -48.93% in over the last four-week period, additionally sinking by -37.25% over the last 6 months – not to mention a drop of -41.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VERV stock in for the last two-week period is set at 23.00, with the RSI for the last a single of trading hit 15.10, and the three-weeks RSI is set at 29.53 for Verve Therapeutics Inc [VERV]. The present Moving Average for the last 50 days of trading for this stock 13.19, while it was recorded at 12.07 for the last single week of trading, and 14.17 for the last 200 days.

Verve Therapeutics Inc [VERV]: A deeper dive into fundamental analysis

Verve Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.24 and a Current Ratio set at 17.24.

Verve Therapeutics Inc [VERV]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Verve Therapeutics Inc posted -0.84/share EPS, while the average EPS was predicted by analysts to be reported at -0.78/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VERV.

An analysis of Institutional ownership at Verve Therapeutics Inc [VERV]

The top three institutional holders of VERV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in VERV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in VERV stock with ownership which is approximately 5.8386%.