HC Wainwright Analysts Reduce Earnings Estimates for VERV

Verve Therapeutics, Inc. (NASDAQ:VERV) – Analysts at HC Wainwright lowered their FY2024 EPS estimates for shares of Verve Therapeutics in a report released on Wednesday, November 6th. HC Wainwright analyst M. Kapoor now expects that the company will earn ($2.37) per share for the year, down from their previous estimate of ($2.30). HC Wainwright currently has a “Buy” rating and a $14.00 target price 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.

Verve Therapeutics (NASDAQ:VERV) last announced its 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 return on equity of 35.23% and a negative net margin of 807.65%. The firm had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $2.75 million. During the same quarter in the previous year, the business earned ($0.72) EPS. The company’s quarterly revenue was up 120.2% on a year-over-year basis.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada cut their target price on Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Stock Down 0.8 %

NASDAQ VERV opened at $6.31 on Friday. 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 $534.20 million, a price-to-earnings ratio of -2.57 and a beta of 1.75. The company has a fifty day moving average of $5.48 and a two-hundred day moving average of $5.68.

Institutional Investors Weigh In On Verve Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in shares of Verve Therapeutics during the third quarter valued at approximately $165,000. Accredited Investors Inc. grew its position in shares of Verve Therapeutics by 14.3% during the 3rd quarter. Accredited Investors Inc. now owns 20,000 shares of the company’s stock worth $97,000 after buying an additional 2,500 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Verve Therapeutics during the third quarter valued at $74,000. Los Angeles Capital Management LLC raised its holdings in shares of 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. Finally, 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 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.