Verve Therapeutics Inc (NASDAQ: VERV) Could See Prices Soar In The Coming Months

In the last trading session, 10.01 million shares of the Verve Therapeutics Inc (NASDAQ:VERV) were traded, and its beta was 1.70. Most recently the company’s share price was $8.32, and it changed around -$4.47 or -34.95% from the last close, which brings the market valuation of the company to $653.54M. VERV currently trades at a discount to its 52-week high of $21.42, offering almost -157.45% off that amount. The share price’s 52-week low was $8.22, which indicates that the current value has risen by an impressive 1.2% since then. We note from Verve Therapeutics Inc’s average daily trading volume that its 10-day average is 1.7 million shares, with the 3-month average coming to 1.08 million.

Verve Therapeutics Inc (NASDAQ:VERV) trade information

Instantly VERV has showed a red trend with a performance of -34.95% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -40.32% year-to-date, but still down -36.78% over the last five days. On the other hand, Verve Therapeutics Inc (NASDAQ:VERV) is -48.93% down in the 30-day period. We can see from the shorts that 14.1 million shares have been sold at a short interest cover period of 10.76 day(s).

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The consensus price target as assigned by Wall Street analysts is $13, which translates to bulls needing to increase their stock price by 36.0% from its current value. Analyst projections state that VERV is forecast to be at a low of $13 and a high of $13.

Verve Therapeutics Inc (VERV) estimates and forecasts

Verve Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -37.25 percent over the past six months and at a 2.56% annual growth rate that is well below the industry average of 8.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 13.10% in revenue this quarter, and will report an increase of 14.90% in the next quarter. The year-over-year growth rate is expected to be 23.00%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $2.53 million in revenue for the current quarter. 8 analysts expect Verve Therapeutics Inc to make $2.97 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.4 million and $2.09 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 80.20%. Forecasts for the next quarter put sales growth at 41.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -67.06%.

VERV Dividends

Verve Therapeutics Inc’s next quarterly earnings report is expected to be released in May.

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

Upon looking at major shareholders, it appears that insiders hold 7.65% of Verve Therapeutics Inc shares, and 88.06% of them are in the hands of institutional investors. The stock currently has a share float of 95.35%. Verve Therapeutics Inc stock is held by 239 institutions, with Alphabet Inc. being the largest institutional investor. By Jun 29, 2023, it held 16.56% of the shares, which is about 10.55 million shares worth $197.8 million.

FMR, LLC, with 9.49% or 6.05 million shares worth $113.37 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Genomic Revolution ETF and ARK ETF Tr-ARK Innovation ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 2.84 million shares worth $37.69 million, making up 4.46% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held roughly 2.12 million shares worth around $28.1 million, which represents about 3.33% of the total shares outstanding.