HC Wainwright Downgrades Verve Therapeutics (NASDAQ:VERV) to Neutral

Verve Therapeutics (NASDAQ:VERV - Get Free Report) was downgraded by research analysts at HC Wainwright from a "buy" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $13.50 price target on the stock. HC Wainwright's price objective indicates a potential upside of 22.06% from the stock's previous close.

Several other equities analysts have also recently commented on VERV. Canaccord Genuity Group cut shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $39.00 to $13.00 in a research note on Tuesday. Guggenheim boosted their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald raised shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada cut their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Verve Therapeutics presently has an average rating of "Hold" and a consensus target price of $14.75.

Verve Therapeutics Stock Down 0.5%

NASDAQ:VERV traded down $0.06 during mid-day trading on Wednesday, hitting $11.06. 7,719,335 shares of the stock traded hands, compared to its average volume of 2,372,272. The business's 50-day moving average price is $5.49 and its 200 day moving average price is $5.93. The company has a market cap of $985.89 million, a PE ratio of -5.24 and a beta of 1.67. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $11.41.

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

Institutional Investors Weigh In On Verve Therapeutics

Hedge funds have recently made changes to their positions in the business. KFG Wealth Management LLC bought a new stake in shares of Verve Therapeutics in the 1st quarter worth approximately $46,000. IFP Advisors Inc lifted its holdings in shares of 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 last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Verve Therapeutics in the 1st quarter worth approximately $47,000. E Fund Management Co. Ltd. bought a new stake in shares of Verve Therapeutics in the 1st quarter worth approximately $48,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Verve Therapeutics in the 4th quarter worth approximately $50,000. 97.11% of the stock is currently owned by institutional investors.

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.