Research Analysts Issue Forecasts for Verve Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV) – Investment analysts at Lifesci Capital issued their Q3 2024 earnings estimates for shares of Verve Therapeutics in a report released on Friday, August 9th. Lifesci Capital analyst C. Jubinville anticipates that the company will earn ($0.72) per share for the quarter. The consensus estimate for Verve Therapeutics’ current full-year earnings is ($2.73) per share. Lifesci Capital also issued estimates for Verve Therapeutics’ Q4 2024 earnings at ($0.72) EPS.

Verve Therapeutics (NASDAQ:VERV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.09. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The business had revenue of $6.70 million during the quarter, compared to analyst estimates of $2.40 million. During the same period last year, the business posted ($0.87) earnings per share. Verve Therapeutics’s quarterly revenue was up 219.0% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Verve Therapeutics in a report on Monday. Finally, Canaccord Genuity Group dropped their price objective on Verve Therapeutics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.17.

Verve Therapeutics Stock Performance

VERV stock opened at $4.54 on Monday. The firm has a 50 day moving average price of $5.91 and a 200-day moving average price of $8.54. Verve Therapeutics has a 52-week low of $4.52 and a 52-week high of $20.12. The firm has a market capitalization of $384.17 million, a price-to-earnings ratio of -1.58 and a beta of 1.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new stake in Verve Therapeutics in the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. bought a new position in Verve Therapeutics in the 4th quarter valued at $30,000. Quest Partners LLC purchased a new stake in Verve Therapeutics in the fourth quarter worth $34,000. Nisa Investment Advisors LLC lifted its position in shares of Verve Therapeutics by 908.4% during the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock worth $38,000 after purchasing an additional 6,949 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Verve Therapeutics by 89.8% during the second 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 period. 97.11% of the stock is 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.