Vera Therapeutics (NASDAQ:VERA) Research Coverage Started at Scotiabank

Scotiabank assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued a sector outperform rating and a $60.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $52.67.

Vera Therapeutics Stock Up 3.2 %

Shares of VERA opened at $41.16 on Wednesday. Vera Therapeutics has a 52 week low of $9.24 and a 52 week high of $50.78. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -20.08 and a beta of 1.00. The stock’s 50-day moving average price is $39.87 and its 200-day moving average price is $38.89.

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

Insider Activity

In other news, CEO Marshall Fordyce sold 23,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at $14,182,110.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Marshall Fordyce sold 23,125 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $14,182,110.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now directly owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,023 shares of company stock worth $2,873,156 over the last quarter. 21.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in VERA. Avoro Capital Advisors LLC acquired a new stake in shares of Vera Therapeutics in the first quarter valued at approximately $227,027,000. Price T Rowe Associates Inc. MD acquired a new stake in Vera Therapeutics during the first quarter worth $103,189,000. Samlyn Capital LLC increased its stake in Vera Therapeutics by 90.8% during the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after acquiring an additional 586,410 shares during the last quarter. First Light Asset Management LLC increased its stake in Vera Therapeutics by 130.6% during the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock worth $36,387,000 after acquiring an additional 569,590 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Vera Therapeutics by 31.5% during the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after acquiring an additional 515,106 shares during the last quarter. Institutional investors and hedge funds 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.