JPMorgan Chase & Co. Cuts Vera Therapeutics (NASDAQ:VERA) Price Target to $71.00

Vera Therapeutics (NASDAQ:VERA) had its price objective decreased by JPMorgan Chase & Co. from $77.00 to $71.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

VERA has been the subject of a number of other research reports. Wells Fargo & Company assumed coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. Guggenheim raised their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Wolfe Research assumed coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. Finally, Wedbush raised their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $64.67.

Vera Therapeutics Trading Down 2.2 %

NASDAQ VERA opened at $29.30 on Tuesday. The business’s fifty day moving average is $34.70 and its 200-day moving average is $40.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a one year low of $25.99 and a one year high of $51.61. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -11.23 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Equities research analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares in the company, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 52,500 shares of company stock valued at $2,305,625. Company insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $56,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Vera Therapeutics by 30.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,106 shares of the company’s stock valued at $3,388,000 after buying an additional 18,532 shares during the last quarter. Woodline Partners LP increased its holdings in Vera Therapeutics by 20.1% in the 4th quarter. Woodline Partners LP now owns 1,202,466 shares of the company’s stock worth $50,852,000 after buying an additional 201,573 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Vera Therapeutics during the fourth quarter valued at approximately $45,462,000. Finally, Thornburg Investment Management Inc. raised its stake in Vera Therapeutics by 91.1% during the 4th quarter. Thornburg Investment Management Inc. now owns 59,004 shares of the company’s stock valued at $2,495,000 after buying an additional 28,124 shares during the last quarter. Hedge funds and other 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.