Vera Therapeutics (NASDAQ:VERA) Shares Up 4.3%

Vera Therapeutics, Inc. (NASDAQ:VERA) rose 4.3% during mid-day trading on Monday . The stock traded as high as $39.21 and last traded at $39.12. Approximately 45,054 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 913,778 shares. The stock had previously closed at $37.51.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of “Buy” and an average target price of $51.75.

Vera Therapeutics Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The stock’s 50-day simple moving average is $37.18 and its 200-day simple moving average is $39.08.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, equities analysts expect that Vera Therapeutics, Inc. will post -2.57 EPS for the current year.

Insider Activity

In related news, CEO Marshall Fordyce sold 14,471 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the transaction, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado purchased a new stake in Vera Therapeutics in the 2nd quarter worth about $135,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Vera Therapeutics during the second quarter worth about $163,000. Ameritas Investment Partners Inc. increased its stake in shares of Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Vera Therapeutics in the first quarter valued at approximately $235,000. Finally, Quarry LP bought a new stake in shares of Vera Therapeutics in the second quarter valued at approximately $235,000. Institutional investors own 99.21% of the company’s stock.

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.