In the last trading session, 2.05 million Verve Therapeutics Inc (NASDAQ:VERV) shares changed hands as the company’s beta touched 1.45. With the company’s per share price at $11.73 changed hands at $0.75 or 6.83% during last session, the market valuation stood at $747.79M. VERV’s last price was a discount, traded about -111.25% off its 52-week high of $24.78. The share price had its 52-week low at $8.22, which suggests the last value was 29.92% up since then. When we look at Verve Therapeutics Inc’s average trading volume, we note the 10-day average is 3.76 million shares, with the 3-month average coming to 1.33 million.
Analysts gave the Verve Therapeutics Inc (VERV) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended VERV as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. Verve Therapeutics Inc’s EPS for the current quarter is expected to be -$0.83.
Verve Therapeutics Inc (NASDAQ:VERV) trade information
Instantly VERV was in green as seen at the end of in last trading. With action -25.29%, the performance over the past five days has been red. The jump to weekly highs of 12.76 on Friday, 11/17/23 added 6.83% to the stock’s daily price. The company’s shares are showing year-to-date downside of -39.38%, with the 5-day performance at -25.29% in the red. However, in the 30-day time frame, Verve Therapeutics Inc (NASDAQ:VERV) is 21.74% up. Looking at the short shares, we see there were 12.69 million shares sold at short interest cover period of 11.73 days.
The consensus price target for the stock as assigned by Wall Street analysts is $46.44, meaning bulls need an upside of 74.74% from its current market value. According to analyst projections, VERV’s forecast low is $22.00 with $75.00 as the target high. To hit the forecast high, the stock’s price needs a -539.39% plunge from its current level, while the stock would need to soar -87.55% for it to hit the projected low.
Verve Therapeutics Inc (VERV) estimates and forecasts
Data shows that the Verve Therapeutics Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -29.93% over the past 6 months, a -13.40% in annual growth rate that is considerably lower than the industry average of 11.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Verve Therapeutics Inc will fall -23.90%, while the growth in revenue is estimated to hit -2.40% for the next quarter. Year-over-year growth is forecast to reach 292.10% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $1.17 million. 4 analysts are of the opinion that Verve Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $500k. The company’s revenue for the corresponding quarters a year ago was $1.01 million and $1.4 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.60%. The estimates for the next quarter sales put growth at -64.40%.
The 2023 estimates are for Verve Therapeutics Inc earnings to decrease by -12.28%.
Verve Therapeutics Inc is expected to release its next quarterly earnings report in December.
Verve Therapeutics Inc (NASDAQ:VERV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 10.32% of Verve Therapeutics Inc shares while 101.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 113.62%. There are 101.89% institutions holding the Verve Therapeutics Inc stock share, with Alphabet Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.56% of the shares, roughly 10.55 million VERV shares worth $197.8 million.
FMR, LLC holds the second largest percentage of outstanding shares, with 9.49% or 6.05 million shares worth $113.37 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Genomic Revolution ETF and ARK ETF Tr-ARK Innovation ETF. With 2.84 million shares estimated at $37.69 million under it, the former controlled 4.46% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held about 3.33% of the shares, roughly 2.12 million shares worth around $28.1 million.