Vera Therapeutics (NASDAQ:VERA) Given New $75.00 Price Target at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its price target raised by JPMorgan Chase & Co. from $72.00 to $75.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 63.65% from the stock’s current price.

VERA has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 target price on the stock. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Guggenheim upped 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.89.

Vera Therapeutics Price Performance

NASDAQ VERA traded up $0.66 on Tuesday, hitting $45.83. The company had a trading volume of 126,547 shares, compared to its average volume of 906,827. 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 company’s fifty day moving average price is $40.65 and its 200-day moving average price is $38.90. The company has a market capitalization of $2.51 billion, a PE ratio of -20.74 and a beta of 1.03. Vera Therapeutics has a 12-month low of $9.88 and a 12-month high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last posted 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). As a group, analysts predict that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insider Transactions at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the transaction, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Marshall Fordyce sold 14,471 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total transaction of $575,366.96. Following the completion of the sale, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated 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 transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,398 shares of company stock valued at $4,376,163 in the last quarter. 21.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Vera Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Vera Therapeutics during the 2nd quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics in the 2nd quarter worth approximately $163,000. Ameritas Investment Partners Inc. raised its position in shares of Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after acquiring an additional 688 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Vera Therapeutics during the first quarter valued at approximately $235,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.