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With 5.6% Distance From Low, Is Verve Therapeutics Inc. (NASDAQ:VERV) Still Renewed For Growth?

In last trading session, Verve Therapeutics Inc. (NASDAQ:VERV) saw 1.5 million shares changing hands with its beta currently measuring 1.70. Company’s recent per share price level of $12.68 trading at -$0.23 or -1.78% at ring of the bell on the day assigns it a market valuation of $806.70M. That closing price of VERV’s stock is at a discount of -230.91% from its 52-week high price of $41.96 and is indicating a premium of 5.6% from its 52-week low price of $11.97. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.63 million shares which gives us an average trading volume of 647.28K if we extend that period to 3-months.

For Verve Therapeutics Inc. (VERV), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 11 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 8 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.92 in the current quarter.

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Verve Therapeutics Inc. (NASDAQ:VERV) trade information

Upright in the red during last session for losing -1.78%, in the last five days VERV remained trading in the green while hitting it’s week-highest on Wednesday, 09/13/23 when the stock touched $12.68 price level, adding 6.63% to its value on the day. Verve Therapeutics Inc.’s shares saw a change of -34.47% in year-to-date performance and have moved 0.56% in past 5-day. Verve Therapeutics Inc. (NASDAQ:VERV) showed a performance of -15.58% in past 30-days. Number of shares sold short was 11.17 million shares which calculate 19.88 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $44.60 to the stock, which implies a rise of 71.57% to its current value. Analysts have been projecting $22.00 as a low price target for the stock while placing it at a high target of $75.00. It follows that stock’s current price would drop -491.48% in reaching the projected high whereas dropping to the targeted low would mean a loss of -73.5% for stock’s current value.

Verve Therapeutics Inc. (VERV) estimates and forecasts

Statistics highlight that Verve Therapeutics Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -25.06% of value to its shares in past 6 months, showing an annual growth rate of -20.27% while that of industry is 9.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -16.50% in the current quarter and calculating -38.80% decrease in the next quarter. This year revenue growth is estimated to rise 306.50% from the last financial year’s standing.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $960k for the same. And 9 analysts are in estimates of company making revenue of $1.18 million in the next quarter that will end on Dec 2023.

VERV Dividends

Verve Therapeutics Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Verve Therapeutics Inc. (NASDAQ:VERV)’s Major holders

Insiders are in possession of 10.32% of company’s total shares while institution are holding 101.89 percent of that, with stock having share float percentage of 113.62%. Investors also watch the number of corporate investors in a company very closely, which is 101.89% institutions for Verve Therapeutics Inc. that are currently holding shares of the company. Alphabet Inc. is the top institutional holder at VERV for having 10.55 million shares of worth $197.8 million. And as of Jun 29, 2023, it was holding 16.56% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 6.05 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.49% of outstanding shares, having a total worth of $113.37 million.

On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF and ARK ETF Tr-ARK Innovation ETF are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 2.91 million shares of worth $37.48 million or 4.57% of the total outstanding shares. The later fund manager was in possession of 2.23 million shares on Aug 30, 2023, making its stake of worth around $28.76 million in the company or a holder of 3.51% of company’s stock.

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