Verve Therapeutics (NASDAQ:VERV) Lowered to "Hold" Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Verve Therapeutics (NASDAQ:VERV - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning, Marketbeat reports. Jefferies Financial Group currently has $11.00 target price on the stock, down from their previous target price of $28.00.

VERV has been the subject of several other reports. HC Wainwright cut shares of Verve Therapeutics from a "buy" rating to a "neutral" rating and set a $13.50 price objective for the company. in a research report on Wednesday. Wall Street Zen upgraded shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada decreased their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Canaccord Genuity Group cut 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 research report on Tuesday. Finally, Guggenheim raised their price target 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Verve Therapeutics presently has a consensus rating of "Hold" and an average target price of $14.75.

Verve Therapeutics Stock Down 0.5%

Shares of VERV stock traded down $0.06 during trading hours on Wednesday, hitting $11.06. 7,719,335 shares of the company's stock traded hands, compared to its average volume of 2,372,272. The stock's 50 day simple moving average is $5.49 and its 200 day simple moving average is $5.93. The stock 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 posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Verve Therapeutics

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in Verve Therapeutics by 823,700.0% in the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company's stock worth $47,000 after purchasing an additional 8,237 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Verve Therapeutics during the fourth quarter valued at about $50,000. KFG Wealth Management LLC acquired a new position in shares of Verve Therapeutics during the first quarter valued at about $46,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Verve Therapeutics during the first quarter valued at about $47,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Verve Therapeutics during the first quarter valued at about $48,000. 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.