BMO Capital Markets Downgrades Verve Therapeutics (NASDAQ:VERV) to Hold

Verve Therapeutics (NASDAQ:VERV - Get Free Report) was downgraded by BMO Capital Markets from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Lifesci Capital downgraded shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research note on Wednesday, June 18th. Canaccord Genuity Group lowered shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their target price for the company from $39.00 to $13.00 in a research report on Tuesday, June 17th. William Blair cut shares of Verve Therapeutics from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, June 17th. Guggenheim increased their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Finally, HC Wainwright downgraded Verve Therapeutics from a "buy" rating to a "neutral" rating and set a $13.50 price objective on the stock. in a report on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.57.

Verve Therapeutics Stock Performance

NASDAQ VERV opened at $11.30 on Thursday. The firm has a 50-day simple moving average of $6.16 and a 200 day simple moving average of $6.09. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $11.41. The stock has a market cap of $1.01 billion, a PE ratio of -5.36 and a beta of 1.67.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. The firm had revenue of $32.98 million during the quarter, compared to analysts' expectations of $7.13 million. Research analysts forecast that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Trading of Verve Therapeutics

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