Vera Therapeutics (NASDAQ:VERA) Coverage Initiated at Scotiabank

Analysts at Scotiabank started coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “sector outperform” rating and a $60.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 50.41% from the stock’s current price.

Other research analysts also recently issued reports about the company. 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 report on Tuesday, September 3rd. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and an average target price of $52.67.

Vera Therapeutics Stock Down 0.3 %

NASDAQ:VERA opened at $39.89 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. Vera Therapeutics has a 1-year low of $9.24 and a 1-year high of $50.78. The company has a 50-day moving average of $39.76 and a 200 day moving average of $38.90. The firm has a market cap of $2.19 billion, a PE ratio of -18.05 and a beta of 1.00.

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

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total transaction of $597,500.00. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,776,849.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Beth C. Seidenberg sold 1,177 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,776,849.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,023 shares of company stock worth $2,873,156 in the last three months. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors have recently bought and sold shares of VERA. Capstone Investment Advisors LLC purchased a new stake in shares of Vera Therapeutics in the 1st quarter valued at $248,000. FORA Capital LLC purchased a new stake in Vera Therapeutics in the first quarter valued at $692,000. Jennison Associates LLC acquired a new stake in Vera Therapeutics during the 1st quarter worth about $3,231,000. SG Americas Securities LLC raised its stake in shares of Vera Therapeutics by 54.9% during the 1st quarter. SG Americas Securities LLC now owns 11,941 shares of the company’s stock valued at $515,000 after buying an additional 4,232 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Vera Therapeutics by 27.7% in the 1st quarter. Swiss National Bank now owns 62,200 shares of the company’s stock valued at $2,682,000 after buying an additional 13,500 shares during the period. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.