Vera Therapeutics (NASDAQ:VERA) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report published on Thursday, Marketbeat reports. The firm issued an overweight rating and a $70.00 price target on the stock.

VERA has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Scotiabank initiated coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Finally, Wedbush boosted their price objective 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $59.22.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock opened at $48.31 on Thursday. The firm has a market capitalization of $3.06 billion, a P/E ratio of -18.51 and a beta of 1.03. Vera Therapeutics has a 52 week low of $12.28 and a 52 week high of $51.61. 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 firm’s 50 day moving average is $43.47 and its two-hundred day moving average is $39.55.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Research analysts forecast that Vera Therapeutics will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Beth C. Seidenberg sold 1,177 shares of the firm’s stock in a transaction on 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 directly owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,927 shares of company stock worth $3,800,796 over the last ninety days. 21.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after purchasing an additional 350 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Vera Therapeutics in the 2nd quarter valued at $135,000. Ameritas Investment Partners Inc. boosted its position in shares of Vera Therapeutics by 20.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after purchasing an additional 688 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics in the 2nd quarter valued at $163,000. Finally, Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics in the 1st quarter valued at $235,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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.