Verve Therapeutics, Inc. (NASDAQ:VERV – Get Rating)’s stock price traded down 7.8% during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $15.94 and last traded at $16.29. 82,906 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 700,573 shares. The stock had previously closed at $17.66.
The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.07). The company had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.00 million.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Verve Therapeutics in a report on Wednesday, February 1st. They set a “neutral” rating and a $21.00 price target on the stock. Canaccord Genuity Group began coverage on Verve Therapeutics in a report on Thursday, April 13th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Verve Therapeutics in a research report on Wednesday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.63.
Institutional Inflows and Outflows
Verve Therapeutics Stock Performance
The firm’s 50 day moving average price is $15.81 and its two-hundred day moving average price is $19.81. The firm has a market cap of $1.03 billion, a PE ratio of -5.69 and a beta of 1.46.
About Verve Therapeutics
Verve Therapeutics, Inc, a genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases. Its lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver. The company also engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver.
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