BMO Capital Markets Reiterates Market Perform Rating for Verve Therapeutics (NASDAQ:VERV)

Verve Therapeutics (NASDAQ:VERV - Get Free Report)'s stock had its "market perform" rating reissued by equities research analysts at BMO Capital Markets in a note issued to investors on Friday,Benzinga reports. They presently have a $13.50 price objective on the stock, down from their prior price objective of $20.00. BMO Capital Markets' target price would suggest a potential upside of 19.63% from the stock's current price.

A number of other brokerages have also recently commented on VERV. Lifesci Capital cut shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and set a $12.00 target price for the company. in a report on Wednesday, June 18th. Royal Bank Of Canada lowered their target price on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Cantor Fitzgerald raised Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Tuesday, April 15th. Canaccord Genuity Group downgraded Verve Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $39.00 to $13.00 in a report on Tuesday, June 17th. Finally, HC Wainwright cut shares of Verve Therapeutics from a "buy" rating to a "neutral" rating and set a $13.50 target price for the company. 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 company. According to data from MarketBeat.com, Verve Therapeutics has an average rating of "Hold" and a consensus price target of $14.57.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV traded up $0.03 during midday trading on Friday, hitting $11.29. 1,586,932 shares of the company's stock were exchanged, compared to its average volume of 2,410,994. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $11.41. The firm's fifty day simple moving average is $6.02 and its 200-day simple moving average is $6.06. The company has a market cap of $1.01 billion, a PE ratio of -5.35 and a beta of 1.67.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VERV. Rhumbline Advisers increased its position in Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company's stock worth $627,000 after buying an additional 2,093 shares in the last quarter. IFP Advisors Inc grew its stake in Verve Therapeutics by 823,700.0% in the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock worth $47,000 after acquiring an additional 8,237 shares during the period. Bank of New York Mellon Corp raised its holdings in Verve Therapeutics by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 220,502 shares of the company's stock valued at $1,244,000 after acquiring an additional 5,262 shares during the last quarter. US Bancorp DE lifted its stake in shares of Verve Therapeutics by 62.8% during the 4th quarter. US Bancorp DE now owns 30,616 shares of the company's stock worth $173,000 after purchasing an additional 11,810 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company's stock worth $111,000 after purchasing an additional 2,669 shares during the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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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