Vera Therapeutics (NASDAQ:VERA) Receives “Overweight” Rating from Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $107.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 150.12% from the company’s previous close.

A number of other brokerages also recently weighed in on VERA. JPMorgan Chase & Co. upped their target price on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $51.75.

Vera Therapeutics Trading Up 1.9 %

NASDAQ VERA opened at $42.78 on Monday. The firm’s 50 day moving average price is $37.47 and its two-hundred day moving average price is $39.00. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -20.87 and a beta of 0.99. Vera Therapeutics has a twelve month low of $9.24 and a twelve month high of $50.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Equities analysts anticipate that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,273 shares of company stock valued at $1,210,750. 21.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crestline Management LP lifted its stake in shares of Vera Therapeutics by 32.4% in the fourth quarter. Crestline Management LP now owns 60,069 shares of the company’s stock worth $924,000 after buying an additional 14,689 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Vera Therapeutics by 25.2% during the fourth quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after acquiring an additional 34,381 shares during the period. Schroder Investment Management Group bought a new stake in Vera Therapeutics during the fourth quarter valued at about $17,087,000. Pale Fire Capital SE acquired a new stake in shares of Vera Therapeutics in the fourth quarter valued at about $252,000. Finally, Kynam Capital Management LP increased its stake in shares of Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after purchasing an additional 694,286 shares during the period. Institutional investors and hedge funds 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.