Verve Therapeutics (NASDAQ:VERV) Upgraded at Wall Street Zen

Key Points

• Verve Therapeutics has been upgraded to a "hold" rating by Wall Street Zen, following similar moves by other analysts, including Jefferies Financial Group and Lifesci Capital, who both also downgraded the stock.
• The company reported a significant increase in revenue, earning $32.98 million in its last quarter, beating estimates by a wide margin despite posting a negative earnings per share of ($0.35).
• Verve Therapeutics has a market cap of approximately $998.81 million, with shares currently trading at around $11.21 after fluctuating between a 52-week low of $2.86 and a high of $11.40.

Wall Street Zen upgraded shares of Verve Therapeutics (NASDAQ:VERV - Free Report) to a hold rating in a research report released on Saturday morning.

Several other research analysts have also recently weighed in on VERV. Lifesci Capital cut shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday, June 18th. Guggenheim boosted their price objective 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. BMO Capital Markets restated a "market perform" rating and issued a $13.50 price objective (down previously from $20.00) on shares of Verve Therapeutics in a research report on Friday, June 27th. Canaccord Genuity Group cut shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and dropped their target price for the company from $39.00 to $13.00 in a research report on Tuesday, June 17th. Finally, Jefferies Financial Group cut shares of Verve Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the company from $28.00 to $11.00 in a research report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $14.57.

Verve Therapeutics Stock Performance

Shares of NASDAQ:VERV remained flat at $11.13 during trading on Friday. Verve Therapeutics has a one year low of $2.86 and a one year high of $11.40. The stock's 50-day moving average is $8.89 and its 200-day moving average is $6.90. The company has a market cap of $992.13 million, a price-to-earnings ratio of -5.27 and a beta of 2.23.

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

Hedge Funds Weigh In On Verve Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in Verve Therapeutics by 30.4% in the 4th quarter. ProShare Advisors LLC now owns 24,016 shares of the company's stock worth $135,000 after purchasing an additional 5,592 shares during the period. Norges Bank acquired a new position in shares of Verve Therapeutics during the 4th quarter worth about $441,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Verve Therapeutics by 16.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 144,749 shares of the company's stock worth $816,000 after buying an additional 20,483 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Verve Therapeutics by 25.0% during the 4th quarter. Wells Fargo & Company MN now owns 45,422 shares of the company's stock worth $256,000 after buying an additional 9,083 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Verve Therapeutics during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 97.11% of the company's stock.

Verve Therapeutics Company Profile

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.