Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $51.75 Average PT from Brokerages

Vera Therapeutics, Inc. (NASDAQ:VERA) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.75.

VERA has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Monday. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd.

Vera Therapeutics Stock Performance

Shares of VERA opened at $46.71 on Wednesday. Vera Therapeutics has a 12 month low of $9.24 and a 12 month high of $50.78. The stock has a fifty day moving average price of $37.82 and a 200-day moving average price of $39.02. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.56 billion, a PE ratio of -22.79 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Equities research analysts predict that Vera Therapeutics will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In related news, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other 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 owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The transaction 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 business’s stock in a transaction that occurred 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 directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,273 shares of company stock worth $1,210,750. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC purchased a new stake in Vera Therapeutics in the first quarter valued at approximately $227,027,000. Kynam Capital Management LP raised its position in Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after purchasing an additional 694,286 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in Vera Therapeutics in the first quarter valued at approximately $103,189,000. Vanguard Group Inc. raised its position in Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after purchasing an additional 515,106 shares during the period. Finally, Samlyn Capital LLC grew its stake in shares of Vera Therapeutics by 90.8% in the second 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 in the last quarter. 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.