Verve Therapeutics (NASDAQ:VERV) Issues Earnings Results

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

Verve Therapeutics Stock Down 3.0 %

NASDAQ:VERV traded down $0.19 during trading hours on Thursday, hitting $6.22. 32,915 shares of the company’s stock traded hands, compared to its average volume of 1,300,721. Verve Therapeutics has a 52 week low of $4.30 and a 52 week high of $19.34. The business’s fifty day simple moving average is $5.48 and its two-hundred day simple moving average is $5.69. The firm has a market cap of $526.34 million, a P/E ratio of -2.47 and a beta of 1.75.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VERV shares. Royal Bank of Canada lowered their target price on shares of Verve Therapeutics from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday. Canaccord Genuity Group increased their price objective on Verve Therapeutics from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright decreased their price target on Verve Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $25.75.

Verve Therapeutics Company Profile

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.