Wall Street Zen Upgrades Verve Therapeutics (NASDAQ:VERV) to "Hold"

Verve Therapeutics (NASDAQ:VERV - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Thursday.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada cut their target price on Verve Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Cantor Fitzgerald upgraded Verve Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Tuesday, April 15th. Canaccord Genuity Group lifted their price objective on Verve Therapeutics from $32.00 to $39.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. Finally, HC Wainwright lifted their price objective on Verve Therapeutics from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.75.

Verve Therapeutics Price Performance

Shares of Verve Therapeutics stock traded up $0.06 during midday trading on Thursday, hitting $4.29. 756,761 shares of the company were exchanged, compared to its average volume of 1,854,441. The firm has a market cap of $382.78 million, a P/E ratio of -1.75 and a beta of 1.82. Verve Therapeutics has a 52 week low of $2.86 and a 52 week high of $9.31. The firm has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $5.83.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted 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 business had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. Equities research analysts expect that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Investors Weigh In On Verve Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BVF Inc. IL raised its position in shares of Verve Therapeutics by 962.2% during the fourth quarter. BVF Inc. IL now owns 6,904,050 shares of the company's stock worth $38,939,000 after acquiring an additional 6,254,050 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Verve Therapeutics by 57.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company's stock worth $21,372,000 after acquiring an additional 1,382,176 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Verve Therapeutics during the first quarter worth $12,648,000. T. Rowe Price Investment Management Inc. raised its position in shares of Verve Therapeutics by 5.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,491,949 shares of the company's stock worth $11,389,000 after acquiring an additional 139,350 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Verve Therapeutics by 18.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company's stock worth $10,423,000 after acquiring an additional 288,678 shares during the last quarter. 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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