Verve Therapeutics (NASDAQ:VERV) Downgraded by Zacks Investment Research to “Sell”

Verve Therapeutics (NASDAQ:VERVGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Verve Therapeutics is a genetic medicines company pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines. The company’s lead product candidate includes VERVE-101. Verve Therapeutics is based in CAMBRIDGE, Mass. “

Several other research analysts also recently weighed in on VERV. Royal Bank of Canada assumed coverage on shares of Verve Therapeutics in a research note on Thursday, February 17th. They issued an “outperform” rating and a $42.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Verve Therapeutics from $58.00 to $34.00 in a report on Monday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $62.33.

Verve Therapeutics stock traded down $0.27 during midday trading on Friday, reaching $16.72. The company’s stock had a trading volume of 3,538 shares, compared to its average volume of 683,534. Verve Therapeutics has a fifty-two week low of $16.47 and a fifty-two week high of $78.00. The stock’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $33.47.

Verve Therapeutics (NASDAQ:VERVGet Rating) last released its quarterly earnings results on Monday, March 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.11). Sell-side analysts predict that Verve Therapeutics will post -2.62 EPS for the current year.

In other Verve Therapeutics news, Director Burt A. Adelman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was purchased at an average price of $21.38 per share, with a total value of $85,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Fmr Llc sold 35,574 shares of the stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $29.04, for a total transaction of $1,033,068.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,588 shares of company stock valued at $6,216,754.

A number of large investors have recently modified their holdings of VERV. Marshall Wace LLP acquired a new stake in Verve Therapeutics in the fourth quarter valued at approximately $35,000. Ensign Peak Advisors Inc purchased a new position in shares of Verve Therapeutics during the 4th quarter valued at approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Verve Therapeutics during the 1st quarter valued at approximately $67,000. Citigroup Inc. purchased a new position in shares of Verve Therapeutics during the 3rd quarter valued at approximately $85,000. Finally, Morgan Stanley purchased a new position in shares of Verve Therapeutics during the 2nd quarter valued at approximately $149,000. 64.85% of the stock is owned by institutional investors.

About Verve Therapeutics (Get Rating)

Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.

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