Verve Therapeutics (NASDAQ:VERV - Get Free Report) was downgraded by equities research analysts at William Blair from a "strong-buy" rating to a "market perform" rating in a note issued to investors on Tuesday, MarketBeat.com reports.
VERV has been the topic of several other reports. Guggenheim increased their target price on Verve Therapeutics from $18.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. Royal Bank Of Canada reduced their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of Verve Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group downgraded shares of Verve Therapeutics from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $13.00 in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.75.
View Our Latest Stock Analysis on VERV
Verve Therapeutics Stock Performance
NASDAQ:VERV traded down $0.06 during mid-day trading on Tuesday, reaching $11.06. 7,719,335 shares of the company's stock were exchanged, compared to its average volume of 2,381,243. Verve Therapeutics has a one year low of $2.86 and a one year high of $11.41. The business's fifty day simple moving average is $5.34 and its two-hundred day simple moving average is $5.90. The firm has a market capitalization of $985.92 million, a PE ratio of -5.24 and a beta of 1.67.
Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate 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 net margin of 303.64% and a negative return on equity of 35.81%. As a group, equities research analysts forecast that Verve Therapeutics will post -2.49 EPS for the current year.
Institutional Investors Weigh In On Verve Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in VERV. Acadian Asset Management LLC boosted its position in 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 buying an additional 17,186 shares in the last quarter. Woodline Partners LP bought a new position in shares of Verve Therapeutics in the 1st quarter valued at $12,648,000. Goldman Sachs Group Inc. boosted its holdings in shares of Verve Therapeutics by 90.7% during the 1st 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 position in Verve Therapeutics by 1,028.7% during the 1st quarter. AQR Capital Management LLC now owns 373,207 shares of the company's stock worth $1,706,000 after acquiring an additional 340,143 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new position in Verve Therapeutics in the 1st quarter worth about $57,000. 97.11% of the stock is owned by institutional investors.
Verve Therapeutics Company Profile
(
Get Free Report)
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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