Vera Therapeutics (NASDAQ:VERA) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $107.00 price objective on the stock.

Separately, JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an overweight rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of Buy and an average target price of $51.75.

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $40.10 on Monday. The company has a fifty day moving average price of $37.08 and a two-hundred day moving average price of $39.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The stock has a market cap of $2.19 billion, a P/E ratio of -19.56 and a beta of 0.99. Vera Therapeutics has a one year low of $9.24 and a one year high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly 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). As a group, equities analysts predict that Vera Therapeutics will post -2.59 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics 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 sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently added to or reduced their stakes in VERA. William Marsh Rice University acquired a new position in shares of Vera Therapeutics in the 2nd quarter worth approximately $593,000. Cambridge Trust Co. lifted its position in shares of Vera Therapeutics by 386.6% in the 1st quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock worth $2,074,000 after purchasing an additional 38,220 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Vera Therapeutics in the 1st quarter worth approximately $9,727,000. Jennison Associates LLC acquired a new position in shares of Vera Therapeutics in the 1st quarter worth approximately $3,231,000. Finally, Vanguard Group Inc. lifted its position in shares of Vera Therapeutics by 31.5% during the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after acquiring an additional 515,106 shares during the period. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.