HC Wainwright Downgrades Verve Therapeutics (NASDAQ:VERV) to Neutral

Verve Therapeutics (NASDAQ:VERV) was downgraded by stock analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $13.50 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 21.40% from the stock’s previous close.

VERV has been the topic of several other research reports. William Blair cut shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity Group cut shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $13.00 in a research report on Tuesday. Royal Bank Of Canada lowered their price target on shares of Verve Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Guggenheim boosted their price target on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.75.

Verve Therapeutics Stock Down 2.3%

Verve Therapeutics stock opened at $11.12 on Wednesday. Verve Therapeutics has a 52-week low of $2.86 and a 52-week high of $11.41. The firm has a market capitalization of $991.24 million, a price-to-earnings ratio of -5.27 and a beta of 1.67. The company has a fifty day simple moving average of $5.18 and a 200-day simple moving average of $5.88.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $32.98 million during the quarter, compared to analyst estimates of $7.13 million. On average, research analysts anticipate that Verve Therapeutics will post -2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Verve Therapeutics by 1.9% during the fourth quarter. Rhumbline Advisers now owns 111,203 shares of the company’s stock worth $627,000 after purchasing an additional 2,093 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Verve Therapeutics by 15.8% during the fourth quarter. Arizona State Retirement System now owns 19,593 shares of the company’s stock worth $111,000 after purchasing an additional 2,669 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Verve Therapeutics by 11.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,690 shares of the company’s stock worth $122,000 after purchasing an additional 2,690 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Verve Therapeutics by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,230 shares of the company’s stock worth $313,000 after purchasing an additional 2,742 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Verve Therapeutics by 5.7% during the fourth quarter. Invesco Ltd. now owns 57,140 shares of the company’s stock worth $322,000 after purchasing an additional 3,080 shares in the last quarter. 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.