Verve Therapeutics (NASDAQ:VERV) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Verve Therapeutics (NASDAQ:VERV) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $13.50 price objective on the stock.

VERV has been the subject of several other research reports. Canaccord Genuity Group cut shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $13.00 in a research note on Tuesday. Guggenheim upped their price objective on shares of Verve Therapeutics from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. William Blair cut shares of Verve Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen raised shares of Verve Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald raised shares of Verve Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.75.

Verve Therapeutics Stock Down 2.3%

VERV stock opened at $11.12 on Wednesday. The stock has a market capitalization of $991.24 million, a P/E ratio of -5.27 and a beta of 1.67. The firm has a 50-day simple moving average of $5.18 and a 200-day simple moving average of $5.88. Verve Therapeutics has a 52 week low of $2.86 and a 52 week high of $11.41.

Verve Therapeutics (NASDAQ:VERV) last released its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.36. The business had revenue of $32.98 million during the quarter, compared to analysts’ expectations of $7.13 million. Verve Therapeutics had a negative net margin of 303.64% and a negative return on equity of 35.81%. On average, analysts expect that Verve Therapeutics will post -2.49 earnings per share for the current year.

Institutional Trading of Verve Therapeutics

Several hedge funds have recently made changes to their positions in the company. BVF Inc. IL lifted its holdings in shares of Verve Therapeutics by 962.2% in the 4th quarter. BVF Inc. IL now owns 6,904,050 shares of the company’s stock worth $38,939,000 after acquiring an additional 6,254,050 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Verve Therapeutics in the 1st quarter worth approximately $12,648,000. Point72 Asset Management L.P. acquired a new position in shares of Verve Therapeutics in the 4th quarter worth approximately $7,863,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Verve Therapeutics by 57.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,789,379 shares of the company’s stock worth $21,372,000 after acquiring an additional 1,382,176 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Verve Therapeutics in the 1st quarter worth approximately $6,054,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Verve Therapeutics Company Profile

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.