Wolfe Research Begins Coverage on Vera Therapeutics (NASDAQ:VERA)

Analysts at Wolfe Research initiated coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “outperform” rating and a $49.00 price target on the stock. Wolfe Research’s price target would suggest a potential upside of 28.58% from the company’s previous close.

Several other research firms have also recently issued reports on VERA. Scotiabank began coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target on the stock. Guggenheim raised their price objective 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. Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.44.

Vera Therapeutics Trading Up 0.1 %

NASDAQ VERA opened at $38.11 on Tuesday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.41 billion, a P/E ratio of -14.60 and a beta of 1.11. Vera Therapeutics has a 52-week low of $31.77 and a 52-week high of $51.61. The firm has a 50-day moving average price of $41.00 and a 200 day moving average price of $40.96.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results 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). Equities research analysts expect that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares of the company’s stock, valued at approximately $3,701,521.94. This trade represents a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 52,500 shares of company stock valued at $2,305,625 in the last ninety days. Corporate insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 buying an additional 350 shares in the last quarter. KBC Group NV grew its stake in Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after acquiring an additional 1,387 shares during the period. AlphaCentric Advisors LLC acquired a new position in Vera Therapeutics in the 3rd quarter valued at $332,000. SG Americas Securities LLC lifted its stake in shares of Vera Therapeutics by 117.5% during the 3rd quarter. SG Americas Securities LLC now owns 9,354 shares of the company’s stock worth $413,000 after purchasing an additional 5,053 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Vera Therapeutics by 109.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock worth $416,000 after purchasing an additional 4,914 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

About Vera Therapeutics

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.