Verve Therapeutics, Inc. (NASDAQ:VERV – Free Report) – Equities researchers at Cantor Fitzgerald upped their FY2023 earnings per share (EPS) estimates for shares of Verve Therapeutics in a research report issued on Wednesday, November 8th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will earn ($3.18) per share for the year, up from their prior forecast of ($3.37). Cantor Fitzgerald currently has a “Neutral” rating and a $22.00 price target on the stock. The consensus estimate for Verve Therapeutics’ current full-year earnings is ($3.47) per share. Cantor Fitzgerald also issued estimates for Verve Therapeutics’ FY2024 earnings at ($3.28) EPS.
A number of other brokerages have also recently weighed in on VERV. Lifesci Capital restated an “outperform” rating on shares of Verve Therapeutics in a research note on Tuesday, August 8th. Guggenheim reduced their target price on Verve Therapeutics from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $31.00 target price on shares of Verve Therapeutics in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Verve Therapeutics presently has an average rating of “Hold” and a consensus target price of $30.00.
Verve Therapeutics Price Performance
Shares of NASDAQ VERV opened at $15.70 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of -5.06 and a beta of 1.61. Verve Therapeutics has a 1-year low of $8.52 and a 1-year high of $27.93. The business has a fifty day moving average price of $12.40 and a 200 day moving average price of $15.68.
Verve Therapeutics (NASDAQ:VERV – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.18. The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $0.96 million. Verve Therapeutics had a negative return on equity of 38.83% and a negative net margin of 2,528.19%. Verve Therapeutics’s revenue for the quarter was up 244.4% compared to the same quarter last year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of Verve Therapeutics by 8.1% in the first quarter. Swiss National Bank now owns 39,900 shares of the company’s stock valued at $911,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC increased its holdings in shares of Verve Therapeutics by 15.6% in the first quarter. ProShare Advisors LLC now owns 11,817 shares of the company’s stock valued at $270,000 after purchasing an additional 1,595 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Verve Therapeutics by 46.3% in the first quarter. Bank of New York Mellon Corp now owns 115,787 shares of the company’s stock valued at $2,642,000 after purchasing an additional 36,652 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Verve Therapeutics by 260.1% in the first quarter. MetLife Investment Management LLC now owns 20,938 shares of the company’s stock valued at $478,000 after purchasing an additional 15,124 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Verve Therapeutics by 107.5% in the first quarter. Rhumbline Advisers now owns 36,980 shares of the company’s stock valued at $844,000 after purchasing an additional 19,156 shares during the period. 97.11% of the stock is owned by institutional investors and hedge funds.
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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