Verve Therapeutics (NASDAQ:VERV) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Verve Therapeutics (NASDAQ:VERV) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat reports. Jefferies Financial Group currently has $11.00 target price on the stock, down from their previous target price of $28.00.

A number of other research analysts have also issued reports on VERV. Wall Street Zen upgraded Verve Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. HC Wainwright lowered shares of Verve Therapeutics from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research note on Wednesday. Canaccord Genuity Group lowered shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $13.00 in a research note on Tuesday. Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Finally, Lifesci Capital lowered Verve Therapeutics from a “strong-buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.75.

Verve Therapeutics Stock Down 0.5%

Shares of VERV stock opened at $11.06 on Wednesday. The company has a market cap of $985.89 million, a P/E ratio of -5.24 and a beta of 1.67. The business has a 50 day moving average of $5.49 and a two-hundred day moving average of $5.93. Verve Therapeutics has a 52 week low of $2.86 and a 52 week high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings results 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 the consensus estimate of $7.13 million. Analysts expect that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Trading of Verve Therapeutics

A number of large investors have recently added to or reduced their stakes in VERV. BVF Inc. IL increased its holdings in shares of Verve Therapeutics by 962.2% in the fourth quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock valued at $38,939,000 after buying an additional 6,254,050 shares in 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 purchasing an additional 1,382,176 shares during the period. Woodline Partners LP purchased a new stake in shares of Verve Therapeutics during the first quarter valued at $12,648,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Verve Therapeutics by 5.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,491,949 shares of the company’s stock valued at $11,389,000 after purchasing an additional 139,350 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Verve Therapeutics by 18.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,848,071 shares of the company’s stock worth $10,423,000 after buying an additional 288,678 shares during the period. 97.11% of the stock is currently owned by institutional investors.

Verve Therapeutics Company Profile

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.