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

Analysts at Scotiabank assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report issued on Wednesday, Marketbeat.com reports. The firm set a “sector outperform” rating and a $60.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 50.41% from the company’s current price.

A number of other research firms have also recently issued reports on VERA. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $52.67.

Vera Therapeutics Stock Down 0.3 %

VERA opened at $39.89 on Wednesday. The company has a fifty day moving average of $39.76 and a two-hundred day moving average of $38.90. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -18.05 and a beta of 1.00. Vera Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current 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 analysts’ consensus estimates of ($0.56) by ($0.06). On average, research analysts expect that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total transaction of $597,500.00. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $11,776,849.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total transaction of $597,500.00. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,776,849.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction 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 owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,023 shares of company stock valued at $2,873,156. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors have recently bought and sold shares of VERA. Public Employees Retirement Association of Colorado purchased a new stake in shares of Vera Therapeutics in the 2nd quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vera Therapeutics in the second quarter worth approximately $163,000. Ameritas Investment Partners Inc. increased its stake in Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after acquiring an additional 688 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Vera Therapeutics in the first quarter valued at $235,000. Finally, Quarry LP purchased a new stake in Vera Therapeutics in the second quarter valued at $235,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.