Verve Therapeutics (NASDAQ:VERV) Downgraded to “Hold” Rating by Jefferies Financial Group

Verve Therapeutics (NASDAQ:VERV) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $11.00 target price on the stock, down from their previous target price of $28.00. Jefferies Financial Group’s target price points to a potential downside of 1.08% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Guggenheim boosted 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. 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 lowered shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $13.00 in a research report on Tuesday. William Blair lowered shares of Verve Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Finally, Lifesci Capital lowered shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.75.

Verve Therapeutics Trading Down 2.3%

VERV opened at $11.12 on Wednesday. Verve Therapeutics has a 1-year low of $2.86 and a 1-year high of $11.41. The company has a market cap of $991.24 million, a P/E ratio of -5.27 and a beta of 1.67. The company has a fifty day moving average price of $5.34 and a two-hundred day moving average price of $5.90.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data 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. The firm had revenue of $32.98 million during 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%. On average, research analysts forecast that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Trading of Verve Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. KFG Wealth Management LLC bought a new stake in Verve Therapeutics during the 1st quarter worth approximately $46,000. IFP Advisors Inc increased its holdings in Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after acquiring an additional 8,237 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in Verve Therapeutics during the 1st quarter worth approximately $47,000. E Fund Management Co. Ltd. bought a new stake in Verve Therapeutics during the 1st quarter worth approximately $48,000. Finally, BNP Paribas Financial Markets bought a new stake in Verve Therapeutics during the 4th quarter worth approximately $50,000. 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.