Verve Therapeutics (NASDAQ:VERV) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Verve Therapeutics (NASDAQ:VERV) released its quarterly earnings results on Thursday. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.09, Briefing.com reports. Verve Therapeutics had a negative return on equity of 37.35% and a negative net margin of 1,226.51%. The business had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $2.40 million. During the same quarter in the previous year, the firm posted ($0.87) earnings per share. The company’s revenue was up 219.0% compared to the same quarter last year.

Verve Therapeutics Stock Down 8.3 %

Shares of NASDAQ:VERV traded down $0.45 during trading on Friday, hitting $4.99. 2,147,793 shares of the company traded hands, compared to its average volume of 1,290,227. The stock has a market capitalization of $418.96 million, a price-to-earnings ratio of -1.74 and a beta of 1.84. The business’s fifty day moving average is $5.94 and its 200-day moving average is $8.74. Verve Therapeutics has a one year low of $4.59 and a one year high of $20.12.

Insider Activity

In other Verve Therapeutics news, insider Andrew D. Ashe acquired 76,000 shares of Verve Therapeutics stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $6.26 per share, for a total transaction of $475,760.00. Following the completion of the transaction, the insider now owns 342,509 shares in the company, valued at approximately $2,144,106.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VERV shares. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Verve Therapeutics in a report on Thursday, May 9th. Royal Bank of Canada lowered their price objective on Verve Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.