Verve Therapeutics (NASDAQ:VERV) Rating Lowered to Market Perform at William Blair

Verve Therapeutics (NASDAQ:VERV) was downgraded by research analysts at William Blair from a “strong-buy” rating to a “market perform” rating in a research report issued on Tuesday, Marketbeat.com reports.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group cut Verve Therapeutics from a “strong-buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $13.00 in a research note on Tuesday. Cantor Fitzgerald upgraded Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Royal Bank Of Canada reduced their price objective on Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, HC Wainwright boosted their target price on shares of Verve Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.75.

Verve Therapeutics Price Performance

Shares of VERV opened at $11.12 on Tuesday. The stock has a market cap of $991.24 million, a PE ratio of -5.27 and a beta of 1.67. Verve Therapeutics has a 12 month low of $2.86 and a 12 month high of $11.41. The stock’s 50-day moving average is $5.18 and its two-hundred day moving average is $5.88.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results 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. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. The firm had revenue of $32.98 million for the quarter, compared to the consensus estimate of $7.13 million. On average, research analysts anticipate that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Several institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in shares of Verve Therapeutics by 30.4% in the 4th quarter. ProShare Advisors LLC now owns 24,016 shares of the company’s stock worth $135,000 after buying an additional 5,592 shares in the last quarter. Norges Bank bought a new stake in Verve Therapeutics in the fourth quarter valued at $441,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Verve Therapeutics by 16.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 144,749 shares of the company’s stock worth $816,000 after acquiring an additional 20,483 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Verve Therapeutics by 25.0% during the fourth quarter. Wells Fargo & Company MN now owns 45,422 shares of the company’s stock valued at $256,000 after acquiring an additional 9,083 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Verve Therapeutics during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

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.