Verve Therapeutics, Inc. (NASDAQ:VERV) Given Average Rating of “Hold” by Brokerages

Shares of Verve Therapeutics, Inc. (NASDAQ:VERV) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.57.

Several research firms recently issued reports on VERV. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Lifesci Capital lowered Verve Therapeutics from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday, June 18th. William Blair downgraded Verve Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, June 17th. Jefferies Financial Group lowered Verve Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $28.00 to $11.00 in a report on Wednesday, June 18th. Finally, Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Hedge Funds Weigh In On Verve Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VERV. IFP Advisors Inc boosted its stake in Verve Therapeutics by 823,700.0% during the fourth quarter. IFP Advisors Inc now owns 8,238 shares of the company’s stock worth $47,000 after buying an additional 8,237 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Verve Therapeutics during the 4th quarter worth $50,000. KFG Wealth Management LLC acquired a new position in shares of Verve Therapeutics during the 1st quarter valued at about $46,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Verve Therapeutics in the first quarter valued at about $47,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Verve Therapeutics during the first quarter worth about $48,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Trading Down 0.6%

Shares of VERV stock opened at $11.21 on Thursday. Verve Therapeutics has a 12-month low of $2.86 and a 12-month high of $11.41. The business’s 50 day moving average is $6.52 and its two-hundred day moving average is $6.20. The company has a market capitalization of $999.26 million, a P/E ratio of -5.31 and a beta of 2.23.

Verve Therapeutics (NASDAQ:VERV) last announced its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share 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 return on equity of 35.81% and a negative net margin of 303.64%. On average, research analysts predict that Verve Therapeutics will post -2.49 earnings per share for the current fiscal year.

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.