Verve Therapeutics (NASDAQ:VERV) Announces Earnings Results

Verve Therapeutics (NASDAQ:VERV) posted its earnings results on Tuesday. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.11, Briefing.com reports. Verve Therapeutics had a negative net margin of 933.08% and a negative return on equity of 35.20%. The firm had revenue of $6.87 million during the quarter, compared to analyst estimates of $2.75 million. During the same quarter in the prior year, the business posted ($0.72) EPS. The business’s revenue was up 120.2% compared to the same quarter last year.

Verve Therapeutics Stock Down 3.0 %

Verve Therapeutics stock traded down $0.19 during trading on Thursday, hitting $6.22. The stock had a trading volume of 32,915 shares, compared to its average volume of 1,300,721. The stock’s 50 day moving average is $5.48 and its two-hundred day moving average is $5.69. Verve Therapeutics has a 1 year low of $4.30 and a 1 year high of $19.34. The stock has a market cap of $526.34 million, a price-to-earnings ratio of -2.47 and a beta of 1.75.

Wall Street Analyst Weigh In

VERV has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday. HC Wainwright reduced their target price on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Canaccord Genuity Group lifted their price target on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Verve Therapeutics has an average rating of “Buy” and a consensus target price of $25.75.

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.