Research Analysts Issue Forecasts for Verve Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:VERV)

Verve Therapeutics, Inc. (NASDAQ:VERV) – Research analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for shares of Verve Therapeutics in a research note issued to investors on Monday, April 8th. HC Wainwright analyst M. Kapoor forecasts that the company will post earnings of ($0.56) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Verve Therapeutics’ current full-year earnings is ($3.04) per share. HC Wainwright also issued estimates for Verve Therapeutics’ Q2 2024 earnings at ($0.60) EPS, Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.62) EPS, FY2024 earnings at ($2.40) EPS and FY2025 earnings at ($2.70) EPS.

Verve Therapeutics (NASDAQ:VERV) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.14. The company had revenue of $5.14 million for the quarter, compared to analyst estimates of $3.95 million. Verve Therapeutics had a negative return on equity of 39.33% and a negative net margin of 1,701.70%.

A number of other brokerages have also recently commented on VERV. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Verve Therapeutics in a report on Wednesday, February 28th. Stifel Nicolaus reduced their target price on Verve Therapeutics from $56.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Verve Therapeutics Stock Performance

NASDAQ VERV opened at $8.01 on Wednesday. The company has a market capitalization of $669.80 million, a price-to-earnings ratio of -2.57 and a beta of 1.70. The stock has a 50-day moving average of $12.87 and a 200 day moving average of $12.62. Verve Therapeutics has a one year low of $7.36 and a one year high of $21.42.

Institutional Investors Weigh In On Verve Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Green Alpha Advisors LLC grew its position in Verve Therapeutics by 11.5% in the 1st quarter. Green Alpha Advisors LLC now owns 24,940 shares of the company’s stock valued at $331,000 after acquiring an additional 2,574 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Verve Therapeutics in the fourth quarter valued at $30,000. Nomura Holdings Inc. increased its position in Verve Therapeutics by 5.0% during the fourth quarter. Nomura Holdings Inc. now owns 19,076 shares of the company’s stock worth $266,000 after buying an additional 900 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Verve Therapeutics in the 4th quarter valued at $29,000. Finally, Vanguard Group Inc. grew its holdings in shares of Verve Therapeutics by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 5,471,930 shares of the company’s stock worth $76,279,000 after buying an additional 638,962 shares during 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.