Verve Therapeutics (NASDAQ:VERV) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Verve Therapeutics (NASDAQ:VERVGet Rating) from a hold rating to a sell rating in a research report sent to investors on Wednesday, 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 analysts have also weighed in on the stock. Royal Bank of Canada began coverage on shares of Verve Therapeutics in a research note on Thursday, February 17th. They set an outperform rating and a $42.00 target price for the company. Stifel Nicolaus cut their price target on 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 assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $62.33.

Shares of VERV stock opened at $15.74 on Wednesday. Verve Therapeutics has a fifty-two week low of $14.31 and a fifty-two week high of $78.00. The firm’s 50 day moving average price is $22.17 and its two-hundred day moving average price is $31.61.

Verve Therapeutics (NASDAQ:VERVGet Rating) last posted its earnings results on Monday, March 14th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.11). As a group, equities research analysts anticipate that Verve Therapeutics will post -2.62 earnings per share for the current fiscal year.

In related news, Director Burt A. Adelman bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The stock was acquired at an average price of $21.38 per share, for a total transaction of $85,520.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fmr Llc sold 3,971 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $29.01, for a total value of $115,198.71. The disclosure for this sale can be found here.

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Verve Therapeutics during the fourth quarter worth $35,000. Ensign Peak Advisors Inc acquired a new stake in Verve Therapeutics during the 4th quarter worth approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Verve Therapeutics in the first quarter valued at approximately $67,000. Citigroup Inc. acquired a new stake in shares of Verve Therapeutics in the third quarter valued at approximately $85,000. Finally, Morgan Stanley acquired a new stake in shares of Verve Therapeutics in the second quarter valued at approximately $149,000. 75.46% of the stock is owned by institutional investors and hedge funds.

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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