Vera Therapeutics (NASDAQ:VERA) Shares Up 4.3%

Vera Therapeutics, Inc. (NASDAQ:VERA) shot up 4.3% during trading on Monday . The company traded as high as $39.21 and last traded at $39.12. 45,054 shares changed hands during trading, a decline of 95% from the average session volume of 913,778 shares. The stock had previously closed at $37.51.

Analyst Upgrades and Downgrades

A number of research firms have commented on VERA. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a research note on Monday. JPMorgan Chase & Co. raised 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vera Therapeutics has a consensus rating of “Buy” and a consensus price target of $51.75.

Vera Therapeutics Stock Performance

The stock has a market cap of $2.19 billion, a P/E ratio of -19.53 and a beta of 0.99. 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 firm’s 50-day moving average price is $37.00 and its 200-day moving average price is $39.20.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Sell-side analysts expect that Vera Therapeutics, Inc. will post -2.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VERA. Crestline Management LP boosted its stake in Vera Therapeutics by 32.4% during the fourth quarter. Crestline Management LP now owns 60,069 shares of the company’s stock worth $924,000 after buying an additional 14,689 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Vera Therapeutics by 25.2% during the fourth quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after purchasing an additional 34,381 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Vera Therapeutics during the fourth quarter valued at $17,087,000. Pale Fire Capital SE purchased a new stake in shares of Vera Therapeutics during the fourth quarter valued at $252,000. Finally, Kynam Capital Management LP boosted its stake in shares of Vera Therapeutics by 23.5% during 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. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.