Wells Fargo & Company Begins Coverage on Vera Therapeutics (NASDAQ:VERA)

Investment analysts at Wells Fargo & Company assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $70.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 44.90% from the stock’s previous close.

Several other analysts also recently commented on the company. Wedbush increased their target price on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. Scotiabank began coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective on the stock. Guggenheim boosted their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $59.22.

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $48.31 on Thursday. Vera Therapeutics has a 12 month low of $12.28 and a 12 month high of $51.61. The stock has a market cap of $3.06 billion, a PE ratio of -18.51 and a beta of 1.03. The company’s fifty day moving average price is $43.47 and its 200-day moving average price is $39.58. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). On average, equities analysts expect that Vera Therapeutics will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the sale, the director now directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. This represents a 0.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marshall Fordyce sold 19,375 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the completion of the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $12,438,989.08. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,927 shares of company stock worth $3,800,796. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after buying an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Vera Therapeutics in the 2nd quarter worth about $135,000. Ameritas Investment Partners Inc. increased its stake in Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after buying an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vera Therapeutics in the 2nd quarter valued at $163,000. Finally, Cetera Advisors LLC purchased a new position in shares of Vera Therapeutics during the 1st quarter worth approximately $235,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.