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

Vera Therapeutics, Inc. (NASDAQ:VERA) has earned an average rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.50.

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

Vera Therapeutics Stock Performance

Shares of VERA opened at $33.37 on Tuesday. The company has a market capitalization of $2.11 billion, a PE ratio of -12.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The company’s 50 day moving average price is $43.73 and its 200 day moving average price is $40.99. Vera Therapeutics has a 52 week low of $14.20 and a 52 week high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Research analysts expect that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. This represents a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marshall Fordyce sold 19,375 shares of Vera Therapeutics stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $12,438,989.08. This trade represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,875 shares of company stock worth $3,808,631 in the last quarter. 21.70% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

A number of hedge funds have recently modified their holdings of the company. Holocene Advisors LP raised its stake in shares of Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock valued at $86,390,000 after purchasing an additional 158,451 shares in the last quarter. Samlyn Capital LLC lifted its holdings in shares of Vera Therapeutics by 90.8% during the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after acquiring an additional 586,410 shares during the period. First Light Asset Management LLC boosted its position in shares of Vera Therapeutics by 130.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock valued at $36,387,000 after acquiring an additional 569,590 shares in the last quarter. Geode Capital Management LLC increased its stake in Vera Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after acquiring an additional 20,223 shares during the period. Finally, Logos Global Management LP raised its position in Vera Therapeutics by 65.2% in the second quarter. Logos Global Management LP now owns 950,000 shares of the company’s stock worth $34,371,000 after purchasing an additional 375,000 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

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.