Verve Therapeutics’ (VERV) Market Perform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Verve Therapeutics (NASDAQ:VERV) in a research note released on Friday morning,Benzinga reports. BMO Capital Markets currently has a $13.50 price target on the stock, down from their previous price target of $20.00.

Several other equities analysts have also weighed in on VERV. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Canaccord Genuity Group lowered 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, June 17th. Jefferies Financial Group downgraded Verve Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $28.00 to $11.00 in a research report on Wednesday, June 18th. Royal Bank Of Canada lowered their price target on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Finally, Guggenheim raised their price target on Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.57.

Verve Therapeutics Stock Up 0.4%

NASDAQ VERV opened at $11.30 on Friday. Verve Therapeutics has a twelve month low of $2.86 and a twelve month high of $11.41. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -5.36 and a beta of 1.67. The business’s fifty day moving average is $6.16 and its 200 day moving average is $6.09.

Verve Therapeutics (NASDAQ:VERV) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.36. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. The business had revenue of $32.98 million for the quarter, compared to the consensus estimate of $7.13 million. On average, research analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. KFG Wealth Management LLC purchased a new stake in Verve Therapeutics in the 1st quarter worth $46,000. IFP Advisors Inc raised its position in shares of Verve Therapeutics by 823,700.0% during the 4th quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock valued at $47,000 after buying an additional 8,237 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Verve Therapeutics during the 1st quarter valued at about $47,000. E Fund Management Co. Ltd. purchased a new stake in shares of Verve Therapeutics during the 1st quarter valued at about $48,000. Finally, BNP Paribas Financial Markets bought a new stake in Verve Therapeutics in the fourth quarter worth about $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.