Research Analysts Offer Predictions for VERV FY2024 Earnings

Verve Therapeutics, Inc. (NASDAQ:VERV) – Equities research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Verve Therapeutics in a research note issued to investors on Monday, November 11th. Cantor Fitzgerald analyst R. Bienkowski now forecasts that the company will post earnings per share of ($2.53) for the year, up from their previous forecast of ($2.79). The consensus estimate for Verve Therapeutics’ current full-year earnings is ($2.49) per share.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.11. The firm had revenue of $6.87 million for the quarter, compared to analyst estimates of $2.75 million. Verve Therapeutics had a negative return on equity of 35.23% and a negative net margin of 807.65%. The company’s revenue for the quarter was up 120.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.72) EPS.

Other research analysts have also recently issued reports about the stock. HC Wainwright lowered their target price on shares of Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th.

Verve Therapeutics Stock Performance

NASDAQ:VERV opened at $4.79 on Thursday. Verve Therapeutics has a 52 week low of $4.30 and a 52 week high of $19.34. The firm’s 50-day simple moving average is $5.45 and its 200 day simple moving average is $5.67. The firm has a market cap of $405.54 million, a price-to-earnings ratio of -1.95 and a beta of 1.75.

Institutional Investors Weigh In On Verve Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Verve Therapeutics by 908.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after purchasing an additional 6,949 shares during the last quarter. Creative Planning bought a new stake in shares of Verve Therapeutics during the third quarter worth $50,000. PFG Investments LLC acquired a new position in shares of Verve Therapeutics during the third quarter worth $53,000. Erste Asset Management GmbH bought a new position in shares of Verve Therapeutics in the 3rd quarter valued at $56,000. Finally, Daiwa Securities Group Inc. boosted its holdings 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 acquiring an additional 5,723 shares in the last quarter. 97.11% of the stock is currently owned by institutional investors.

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.