JPMorgan Chase & Co. Has Lowered Expectations for Vera Therapeutics (NASDAQ:VERA) Stock Price

Vera Therapeutics (NASDAQ:VERA) had its target price dropped by research analysts at JPMorgan Chase & Co. from $77.00 to $71.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 136.98% from the stock’s current price.

VERA has been the topic of several other reports. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 target price on the stock. Wolfe Research began coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target for the company. Wedbush lifted their target price on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Guggenheim upped their target price on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $64.67.

Vera Therapeutics Price Performance

Shares of VERA opened at $29.96 on Tuesday. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $34.97 and its 200-day simple moving average is $40.15. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -11.48 and a beta of 1.11. Vera Therapeutics has a twelve month low of $25.99 and a twelve month high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. Equities analysts forecast that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred 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 directly owns 85,942 shares of the company’s stock, valued at approximately $3,701,521.94. This represents a 16.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 52,500 shares of company stock worth $2,305,625 over the last 90 days. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after acquiring an additional 350 shares during the period. Huntington National Bank acquired a new stake in shares of Vera Therapeutics during the fourth quarter valued at $26,000. Summit Investment Advisors Inc. boosted its stake in shares of Vera Therapeutics by 16.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after purchasing an additional 639 shares during the last quarter. AlphaQuest LLC purchased a new stake in Vera Therapeutics in the 4th quarter worth approximately $34,000. Finally, Alliancebernstein L.P. grew its position in shares of Vera Therapeutics by 2.0% in the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company’s stock valued at $1,706,000 after purchasing an additional 800 shares during the period. Hedge funds and other 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.