Verve Therapeutics (NASDAQ:VERV) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Verve Therapeutics (NASDAQ:VERV) from a buy rating to a neutral rating in a report published on Wednesday morning, MarketBeat reports. HC Wainwright currently has $13.50 price target on the stock.

Several other research firms have also recently weighed in on VERV. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Canaccord Genuity Group lowered shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and decreased their price target 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, Royal Bank Of Canada reduced 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Verve Therapeutics has an average rating of “Hold” and an average price target of $14.75.

Verve Therapeutics Trading Down 0.5%

Shares of Verve Therapeutics stock opened at $11.06 on Wednesday. The firm has a fifty day simple moving average of $5.49 and a 200-day simple moving average of $5.93. The stock has a market capitalization of $985.89 million, a price-to-earnings ratio of -5.24 and a beta of 1.67. Verve Therapeutics has a 1-year low of $2.86 and a 1-year high of $11.41.

Verve Therapeutics (NASDAQ:VERV) 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. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The firm had revenue of $32.98 million for the quarter, compared to the consensus estimate of $7.13 million. As a group, research analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock valued at $627,000 after acquiring an additional 2,093 shares during the period. IFP Advisors Inc boosted its position in Verve Therapeutics by 823,700.0% in the fourth 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. Bank of New York Mellon Corp grew its stake in Verve Therapeutics by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 220,502 shares of the company’s stock worth $1,244,000 after buying an additional 5,262 shares during the last quarter. US Bancorp DE increased its holdings in shares of Verve Therapeutics by 62.8% during the fourth quarter. US Bancorp DE now owns 30,616 shares of the company’s stock worth $173,000 after buying an additional 11,810 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Verve Therapeutics by 15.8% in the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock valued at $111,000 after acquiring an additional 2,669 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.