HC Wainwright Cuts Earnings Estimates for Verve Therapeutics

Verve Therapeutics, Inc. (NASDAQ:VERV - Free Report) - Stock analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Verve Therapeutics in a research note issued to investors on Wednesday, November 6th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings per share of ($2.37) for the year, down from their prior estimate of ($2.30). HC Wainwright has a "Buy" rating and a $14.00 price objective on the stock. The consensus estimate for Verve Therapeutics' current full-year earnings is ($2.65) per share. HC Wainwright also issued estimates for Verve Therapeutics' Q4 2024 earnings at ($0.60) EPS, Q1 2025 earnings at ($0.60) EPS, Q2 2025 earnings at ($0.63) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at ($0.66) EPS and FY2025 earnings at ($2.54) EPS.

Several other research firms also recently weighed in on VERV. Royal Bank of Canada dropped their price target on Verve Therapeutics from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday. Canaccord Genuity Group increased their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $25.75.

Verve Therapeutics Trading Down 1.1 %

Shares of NASDAQ:VERV traded down $0.07 during trading on Friday, reaching $6.29. The stock had a trading volume of 493,500 shares, compared to its average volume of 1,302,925. The firm's 50-day simple moving average is $5.48 and its 200 day simple moving average is $5.70. Verve Therapeutics has a one year low of $4.30 and a one year high of $19.34. The company has a market capitalization of $532.51 million, a P/E ratio of -2.59 and a beta of 1.75.

Verve Therapeutics (NASDAQ:VERV - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same period last year, the business posted ($0.72) EPS. The business's revenue was up 120.2% compared to the same quarter last year.

Institutional Investors Weigh In On Verve Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Accredited Investors Inc. raised its position in Verve Therapeutics by 14.3% in the 3rd quarter. Accredited Investors Inc. now owns 20,000 shares of the company's stock valued at $97,000 after purchasing an additional 2,500 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Verve Therapeutics during the third quarter worth approximately $74,000. Los Angeles Capital Management LLC raised its holdings in Verve Therapeutics by 8.2% in the third quarter. Los Angeles Capital Management LLC now owns 262,393 shares of the company's stock valued at $1,270,000 after acquiring an additional 19,925 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Verve Therapeutics by 78.7% in the third quarter. Harbor Capital Advisors Inc. now owns 53,524 shares of the company's stock worth $259,000 after acquiring an additional 23,565 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Verve Therapeutics by 1,631.7% during the third quarter. US Bancorp DE now owns 18,806 shares of the company's stock worth $91,000 after purchasing an additional 17,720 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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.