Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.50 Average PT from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $63.50.

Several analysts recently commented on VERA shares. Guggenheim upped their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company started coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Scotiabank started coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price target on the stock.

Vera Therapeutics Stock Up 0.9 %

Shares of NASDAQ:VERA opened at $34.09 on Tuesday. The company has a market capitalization of $2.16 billion, a PE ratio of -13.06 and a beta of 1.15. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a twelve month low of $16.84 and a twelve month high of $51.61. The firm has a 50 day simple moving average of $42.82 and a 200-day simple moving average of $40.88.

Vera Therapeutics (NASDAQ:VERA) last released 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). On average, equities analysts predict that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total value of $821,450.00. Following the transaction, the chief executive officer now directly owns 85,942 shares in the company, valued at approximately $4,034,117.48. This represents a 16.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,500 shares of company stock valued at $3,026,075. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of Vera Therapeutics by 28.5% during the 2nd quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock worth $5,347,000 after acquiring an additional 32,800 shares during the period. First Turn Management LLC lifted its holdings in shares of Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after acquiring an additional 113,550 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Vera Therapeutics by 41.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock worth $18,830,000 after acquiring an additional 124,197 shares during the period. Magnetar Financial LLC purchased a new position in shares of Vera Therapeutics during the 2nd quarter worth about $652,000. Finally, Barclays PLC lifted its holdings in shares of Vera Therapeutics by 94.1% during the 3rd quarter. Barclays PLC now owns 85,395 shares of the company’s stock worth $3,774,000 after acquiring an additional 41,394 shares during the period. 99.21% of the stock is currently 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.