Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Average Rating of “Buy” from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $63.50.

VERA has been the topic of several research analyst reports. Scotiabank began coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective on the stock. Wells Fargo & Company initiated coverage on Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. upped their target price 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. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Wedbush lifted their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 19,375 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $12,438,989.08. This represents a 5.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,000 shares of company stock valued at $3,675,681. 21.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VERA. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Vera Therapeutics during the 2nd quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vera Therapeutics during the 2nd quarter worth approximately $163,000. Quarry LP acquired a new position in shares of Vera Therapeutics in the 2nd quarter valued at $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vera Therapeutics by 30.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after buying an additional 1,737 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Up 1.3 %

Shares of NASDAQ:VERA opened at $42.45 on Friday. The business’s 50 day moving average price is $45.40 and its 200-day moving average price is $40.57. Vera Therapeutics has a 1 year low of $14.20 and a 1 year high of $51.61. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -16.26 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.21). On average, equities research analysts forecast that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

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.