Cantor Fitzgerald Issues Positive Estimate for VERV Earnings

Verve Therapeutics, Inc. (NASDAQ:VERV) – Equities researchers at Cantor Fitzgerald increased their FY2024 earnings per share estimates for shares of Verve Therapeutics in a report released on Monday, November 11th. Cantor Fitzgerald analyst R. Bienkowski now forecasts that the company will earn ($2.53) per share for the year, up from their prior estimate of ($2.79). The consensus estimate for Verve Therapeutics’ current full-year earnings is ($2.53) per share.

Verve Therapeutics (NASDAQ:VERV) last issued its earnings results on Tuesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $2.75 million. During the same quarter last year, the company earned ($0.72) EPS. The firm’s quarterly revenue was up 120.2% on a year-over-year basis.

A number of other brokerages also recently issued reports on VERV. Royal Bank of Canada reduced their price target on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group increased their price target on Verve Therapeutics from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright reduced their price objective on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

Verve Therapeutics Stock Performance

VERV stock opened at $5.38 on Thursday. The company’s fifty day moving average price is $5.47 and its 200-day moving average price is $5.68. Verve Therapeutics has a one year low of $4.30 and a one year high of $19.34. The company has a market capitalization of $455.47 million, a PE ratio of -2.19 and a beta of 1.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERV. Cornercap Investment Counsel Inc. increased its position in Verve Therapeutics by 13.5% during the second quarter. Cornercap Investment Counsel Inc. now owns 14,956 shares of the company’s stock valued at $73,000 after acquiring an additional 1,778 shares during the last quarter. Arizona State Retirement System grew its holdings in Verve Therapeutics by 14.1% during the 2nd quarter. Arizona State Retirement System now owns 16,386 shares of the company’s stock valued at $80,000 after purchasing an additional 2,019 shares during the last quarter. Accredited Investors Inc. raised its position in Verve Therapeutics by 16.3% in the 2nd quarter. Accredited Investors Inc. now owns 17,500 shares of the company’s stock worth $85,000 after purchasing an additional 2,455 shares during the period. FMR LLC boosted its position in shares of Verve Therapeutics by 0.3% during the third quarter. FMR LLC now owns 1,418,993 shares of the company’s stock valued at $6,868,000 after buying an additional 3,873 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Verve Therapeutics by 31.0% during the first quarter. ProShare Advisors LLC now owns 17,696 shares of the company’s stock valued at $235,000 after buying an additional 4,184 shares during the last quarter. Hedge funds and other institutional investors 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.