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

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

Several other analysts also recently issued reports on the stock. William Blair downgraded shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Cantor Fitzgerald raised shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. HC Wainwright downgraded 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. Finally, Royal Bank Of Canada decreased their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. 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.com, Verve Therapeutics has an average rating of “Hold” and an average target price of $14.75.

Verve Therapeutics Price Performance

Shares of NASDAQ VERV opened at $11.12 on Wednesday. The company has a market cap of $991.24 million, a P/E ratio of -5.27 and a beta of 1.67. Verve Therapeutics has a 1 year low of $2.86 and a 1 year high of $11.41. The firm has a 50-day simple moving average of $5.18 and a two-hundred day simple moving average of $5.88.

Verve Therapeutics (NASDAQ:VERV) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.36. The business had revenue of $32.98 million during the quarter, compared to the consensus estimate of $7.13 million. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. As a group, equities research analysts expect that Verve Therapeutics will post -2.49 EPS for the current year.

Institutional Trading of Verve Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VERV. KFG Wealth Management LLC purchased a new position in Verve Therapeutics during the first quarter valued at approximately $46,000. IFP Advisors Inc increased its holdings in Verve Therapeutics by 823,700.0% during 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 during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Verve Therapeutics during the first quarter valued at approximately $47,000. E Fund Management Co. Ltd. purchased a new position in Verve Therapeutics during the first quarter valued at approximately $48,000. Finally, BNP Paribas Financial Markets purchased a new position in Verve Therapeutics during the fourth quarter valued at approximately $50,000. Institutional investors own 97.11% of the company’s stock.

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.