Verve Therapeutics (NASDAQ:VERV) Receives “Hold” Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Verve Therapeutics (NASDAQ:VERV) in a report released on Tuesday morning,Benzinga reports. They currently have a $13.00 price objective on the stock, down from their prior price objective of $39.00.

A number of other equities analysts have also issued reports on VERV. William Blair reiterated an “outperform” rating on shares of Verve Therapeutics in a research report on Friday, February 21st. Wall Street Zen upgraded shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Guggenheim increased their price objective on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Royal Bank Of Canada lowered their price objective on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald raised Verve Therapeutics from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Verve Therapeutics Price Performance

VERV opened at $11.38 on Tuesday. The stock’s 50 day moving average price is $5.02 and its 200 day moving average price is $5.84. The stock has a market cap of $1.01 billion, a P/E ratio of -5.39 and a beta of 1.67. Verve Therapeutics has a 12 month low of $2.86 and a 12 month high of $11.41.

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. The company had revenue of $32.98 million during the quarter, compared to analysts’ expectations of $7.13 million. Verve Therapeutics had a negative return on equity of 35.81% and a negative net margin of 303.64%. Equities analysts anticipate that Verve Therapeutics will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Verve Therapeutics

Hedge funds have recently made changes to their positions in the business. KFG Wealth Management LLC acquired a new stake in Verve Therapeutics during the first quarter valued at approximately $46,000. IFP Advisors Inc increased its holdings in shares of Verve Therapeutics by 823,700.0% in 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 in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Verve Therapeutics during the 1st quarter valued at $47,000. E Fund Management Co. Ltd. bought a new stake in shares of Verve Therapeutics during the 1st quarter worth $48,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Verve Therapeutics during the 4th quarter worth $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.