Vera Therapeutics (NASDAQ:VERA) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Vera Therapeutics (NASDAQ:VERA) in a report published on Friday, Benzinga reports. Cantor Fitzgerald currently has a $107.00 target price on the stock.

Several other brokerages also recently weighed in on VERA. JPMorgan Chase & Co. increased their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an overweight rating in a research note on Tuesday, September 3rd. Raymond James raised their price objective on shares of Vera Therapeutics from $57.00 to $68.00 and gave the stock a strong-buy rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $51.75.

Vera Therapeutics Trading Down 2.5 %

Shares of VERA stock opened at $37.20 on Friday. The company has a market cap of $2.03 billion, a PE ratio of -18.15 and a beta of 0.99. Vera Therapeutics has a 1 year low of $9.24 and a 1 year high of $50.78. The stock’s 50 day simple moving average is $36.80 and its two-hundred day simple moving average is $39.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Research analysts predict that Vera Therapeutics will post -2.59 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total transaction of $575,366.96. Following the transaction, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund grew its holdings in Vera Therapeutics by 55.5% in the fourth quarter. New York State Common Retirement Fund now owns 17,491 shares of the company’s stock worth $269,000 after purchasing an additional 6,244 shares during the last quarter. Crestline Management LP boosted its position in shares of Vera Therapeutics by 32.4% in the 4th quarter. Crestline Management LP now owns 60,069 shares of the company’s stock worth $924,000 after purchasing an additional 14,689 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Vera Therapeutics by 25.2% during the 4th quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock worth $2,626,000 after buying an additional 34,381 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Vera Therapeutics in the 4th quarter worth approximately $17,087,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Vera Therapeutics during the fourth quarter worth $252,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

About Vera Therapeutics

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.