FY2024 Earnings Forecast for VERV Issued By Lifesci Capital

Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) - Lifesci Capital increased their FY2024 earnings per share estimates for Verve Therapeutics in a research note issued on Tuesday, November 5th. Lifesci Capital analyst C. Jubinville now expects that the company will post earnings per share of ($2.49) for the year, up from their prior forecast of ($2.62). The consensus estimate for Verve Therapeutics' current full-year earnings is ($2.65) per share.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.11. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same quarter in the prior year, the business posted ($0.72) EPS. The firm's quarterly revenue was up 120.2% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, HC Wainwright reduced their price target on shares of Verve Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $25.75.

Verve Therapeutics Stock Down 1.1 %

VERV traded down $0.07 during midday trading on Friday, hitting $6.29. 493,500 shares of the company traded hands, compared to its average volume of 1,302,925. The company's 50-day moving average is $5.48 and its 200 day moving average is $5.70. Verve Therapeutics has a 52 week low of $4.30 and a 52 week high of $19.34. The firm has a market capitalization of $532.51 million, a PE ratio of -2.59 and a beta of 1.75.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in shares of Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company's stock worth $38,000 after acquiring an additional 6,949 shares during the period. Creative Planning purchased a new stake in shares of Verve Therapeutics during the 3rd quarter valued at about $50,000. PFG Investments LLC purchased a new position in shares of Verve Therapeutics in the 3rd quarter worth approximately $53,000. Daiwa Securities Group Inc. increased its position in shares of Verve Therapeutics by 89.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 12,094 shares of the company's stock valued at $59,000 after purchasing an additional 5,723 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Verve Therapeutics during the 1st quarter valued at $191,000. 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.