Equities Analysts Offer Predictions for VERV FY2024 Earnings

Verve Therapeutics, Inc. (NASDAQ:VERV) – Stock analysts at Lifesci Capital lifted their FY2024 earnings estimates for Verve Therapeutics in a note issued to investors on Tuesday, November 5th. Lifesci Capital analyst C. Jubinville now expects that the company will post earnings of ($2.49) per share 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.

Several other brokerages have also weighed in on VERV. HC Wainwright decreased their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group boosted their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company 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 an average rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Price Performance

Shares of VERV opened at $6.31 on Friday. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $19.34. The stock’s fifty day moving average price is $5.48 and its two-hundred day moving average price is $5.68. The firm has a market cap of $534.20 million, a PE ratio of -2.57 and a beta of 1.75.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Verve Therapeutics by 15.7% in the first quarter. Vanguard Group Inc. now owns 6,331,312 shares of the company’s stock worth $84,080,000 after purchasing an additional 859,382 shares during the last quarter. Novo Holdings A S increased its holdings in shares of Verve Therapeutics by 20.0% in the 2nd quarter. Novo Holdings A S now owns 2,400,000 shares of the company’s stock worth $11,712,000 after buying an additional 400,000 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Verve Therapeutics by 138.1% during the 2nd quarter. Renaissance Technologies LLC now owns 474,500 shares of the company’s stock valued at $2,316,000 after buying an additional 275,173 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Verve Therapeutics by 245.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 395,699 shares of the company’s stock worth $1,931,000 after acquiring an additional 281,173 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Verve Therapeutics by 22.2% in the second quarter. Bank of New York Mellon Corp now owns 274,873 shares of the company’s stock worth $1,341,000 after acquiring an additional 49,922 shares in the last quarter. 97.11% of the stock is currently owned by hedge funds and other 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.