Verve Therapeutics initiated with a Sell at Goldman Sachs

Goldman Sachs analyst Andrea Tan initiated coverage of Verve Therapeutics with a Sell rating and $13 price target. The FDA’s recent investigational new drug hold, which requests additional data to evaluate the safety risk, presents a near-term overhang, Tan tells investors in a research note. In the long-term, the analyst sees significant risk to Verve’s commercial opportunity as her key opinion leader discussions "highlight hesitancy around a novel gene editing modality given the uncertain benefit/risk profile."