Verve Therapeutics (NASDAQ:VERV - Get Free Report) was downgraded by Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $13.00 price target on the stock, down from their prior price target of $39.00. Canaccord Genuity Group's price target would suggest a potential upside of 17.54% from the company's previous close.
Several other brokerages have also recently issued reports on VERV. William Blair reaffirmed an "outperform" rating on shares of Verve Therapeutics in a report on Friday, February 21st. Guggenheim upped their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. HC Wainwright increased their price objective on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Royal Bank Of Canada reduced 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. Finally, Wall Street Zen upgraded shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.75.
Get Our Latest Report on Verve Therapeutics
Verve Therapeutics Price Performance
Shares of VERV stock traded down $0.06 during trading hours on Tuesday, reaching $11.06. 7,719,335 shares of the company traded hands, compared to its average volume of 2,378,108. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $11.41. The company has a market cap of $985.92 million, a P/E ratio of -5.24 and a beta of 1.67. The firm has a 50-day moving average price of $5.34 and a 200 day moving average price of $5.90.
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, topping analysts' consensus estimates of ($0.71) by $0.36. The company had revenue of $32.98 million for the quarter, compared to analysts' expectations of $7.13 million. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. Sell-side analysts predict that Verve Therapeutics will post -2.49 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. BVF Inc. IL boosted its stake in shares of Verve Therapeutics by 962.2% during the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company's stock worth $38,939,000 after purchasing an additional 6,254,050 shares during the period. Woodline Partners LP purchased a new stake in Verve Therapeutics in the 1st quarter worth about $12,648,000. Point72 Asset Management L.P. bought a new stake in Verve Therapeutics in the fourth quarter worth about $7,863,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Verve Therapeutics by 57.4% during 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 period. Finally, Nuveen LLC purchased a new position in shares of Verve Therapeutics during the first quarter valued at approximately $6,054,000. Institutional investors own 97.11% of the company's stock.
About Verve Therapeutics
(
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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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