Verve Therapeutics (NASDAQ:VERV – Get Free Report) was downgraded by research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a $13.50 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 21.40% from the company’s current price.
VERV has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Canaccord Genuity Group downgraded shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $13.00 in a report on Tuesday. 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. Cantor Fitzgerald upgraded shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Finally, William Blair downgraded shares of Verve Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verve Therapeutics currently has an average rating of “Hold” and a consensus target price of $14.75.
Check Out Our Latest Stock Report on VERV
Verve Therapeutics Trading Down 2.3%
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating 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. On average, sell-side analysts forecast that Verve Therapeutics will post -2.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Verve Therapeutics
Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of Verve Therapeutics by 1.9% in the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after acquiring an additional 2,093 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after purchasing an additional 2,669 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Verve Therapeutics by 11.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,690 shares of the company’s stock worth $122,000 after purchasing an additional 2,690 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Verve Therapeutics by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock worth $313,000 after purchasing an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Verve Therapeutics by 5.7% during the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock worth $322,000 after purchasing an additional 3,080 shares in the last quarter. Institutional investors and hedge funds 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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