Verve Therapeutics' (VERV) "Hold" Rating Reiterated at Jefferies Financial Group

Verve Therapeutics (NASDAQ:VERV - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Jefferies Financial Group in a research note issued on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock, down from their prior price target of $28.00. Jefferies Financial Group's price target would indicate a potential downside of 3.34% from the company's current price.

VERV has been the subject of a number of other research reports. Guggenheim raised their price objective on shares of Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a report on Tuesday, April 15th. Canaccord Genuity Group downgraded shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and decreased their price objective for the stock from $39.00 to $13.00 in a report on Tuesday. William Blair downgraded shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Lifesci Capital restated a "market perform" rating and set a $12.00 price objective on shares of Verve Therapeutics in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $14.75.

Verve Therapeutics Price Performance

VERV opened at $11.38 on Wednesday. The company's 50-day moving average is $5.02 and its 200 day moving average is $5.84. Verve Therapeutics has a fifty-two week low of $2.86 and a fifty-two week high of $11.41. The firm has a market capitalization of $1.01 billion, a P/E ratio of -5.39 and a beta of 1.67.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping 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 business had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. On average, equities research analysts expect that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of Verve Therapeutics by 126.2% in the first quarter. Acadian Asset Management LLC now owns 30,803 shares of the company's stock valued at $140,000 after purchasing an additional 17,186 shares during the period. Woodline Partners LP bought a new stake in shares of Verve Therapeutics in the first quarter valued at approximately $12,648,000. Goldman Sachs Group Inc. grew its stake in Verve Therapeutics by 90.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,413,118 shares of the company's stock valued at $6,458,000 after acquiring an additional 671,939 shares in the last quarter. AQR Capital Management LLC grew its stake in Verve Therapeutics by 1,028.7% during the first quarter. AQR Capital Management LLC now owns 373,207 shares of the company's stock valued at $1,706,000 after acquiring an additional 340,143 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in Verve Therapeutics during the first quarter valued at approximately $57,000. Institutional investors 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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