Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Average Rating of “Buy” from Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $68.86.

Several research firms have recently issued reports on VERA. Scotiabank assumed coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wedbush raised their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st.

Insider Activity

In other news, Director Beth C. Seidenberg sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the sale, the director now owns 131,553 shares of the company’s stock, valued at $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 owns 85,942 shares of the company’s stock, valued at $3,701,521.94. This represents a 16.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,500 shares of company stock valued at $3,026,075 in the last ninety days. 21.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in VERA. Mirae Asset Global Investments Co. Ltd. grew its position in Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares in the last quarter. KBC Group NV grew its stake in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after buying an additional 1,387 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Vera Therapeutics by 13.5% in the second quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock worth $425,000 after buying an additional 1,400 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Vera Therapeutics by 19.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after acquiring an additional 2,200 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Vera Therapeutics by 27.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock valued at $568,000 after acquiring an additional 2,882 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Down 0.5 %

VERA opened at $33.92 on Tuesday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a twelve month low of $20.48 and a twelve month high of $51.61. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -13.00 and a beta of 1.15. The company has a 50-day simple moving average of $42.58 and a 200 day simple moving average of $40.91.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Analysts predict that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

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.