Vera Therapeutics (NASDAQ:VERA) Issues Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Vera Therapeutics (NASDAQ:VERA) released its earnings results on Thursday. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21), Briefing.com reports.

Vera Therapeutics Stock Performance

Shares of NASDAQ VERA traded down $1.48 during midday trading on Friday, reaching $47.56. 310,222 shares of the company traded hands, compared to its average volume of 913,210. The stock has a 50-day moving average price of $41.33 and a 200 day moving average price of $39.10. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -21.52 and a beta of 1.03. 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 has a 52 week low of $10.79 and a 52 week high of $50.78.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 15,000 shares of the company’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 completion of the sale, the director now directly owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares in the company, valued at $6,318,490.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,398 shares of company stock valued at $4,376,163. Company insiders own 21.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on VERA. Wedbush lifted their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Guggenheim upped their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $54.33.

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.