HC Wainwright Issues Pessimistic Outlook for VERV Earnings

Verve Therapeutics, Inc. (NASDAQ:VERV) – HC Wainwright reduced their FY2024 earnings estimates for Verve Therapeutics in a research note issued 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 forecast of ($2.30). HC Wainwright has a “Buy” rating and a $14.00 price target 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.11. The business had revenue of $6.87 million during the quarter, compared to analysts’ expectations of $2.75 million. Verve Therapeutics had a negative net margin of 807.65% and a negative return on equity of 35.23%. Verve Therapeutics’s revenue was up 120.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.72) earnings per share.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group upped their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics has an average rating of “Buy” and an average price target of $25.75.

Verve Therapeutics Price Performance

VERV stock opened at $6.36 on Friday. Verve Therapeutics has a 12 month low of $4.30 and a 12 month high of $19.34. The firm has a 50-day moving average price of $5.48 and a 200-day moving average price of $5.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VERV. Nisa Investment Advisors LLC increased its stake in shares of Verve Therapeutics by 908.4% in the second quarter. Nisa Investment Advisors LLC now owns 7,714 shares of the company’s stock valued at $38,000 after buying an additional 6,949 shares during the period. Creative Planning acquired a new stake in Verve Therapeutics during the 3rd quarter valued at approximately $50,000. PFG Investments LLC acquired a new stake in Verve Therapeutics during the 3rd quarter valued at approximately $53,000. Daiwa Securities Group Inc. increased its position in Verve Therapeutics by 89.8% during the 2nd 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. Finally, Cornercap Investment Counsel Inc. increased its position in Verve Therapeutics by 13.5% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after purchasing an additional 1,778 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.

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.