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

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $63.50.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Wells Fargo & Company initiated coverage on Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target for the company. Scotiabank started coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st.

Insider Buying and Selling

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 15,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. The trade was a 10.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marshall Fordyce sold 19,375 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total transaction of $782,556.25. Following the transaction, 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. In the last three months, insiders sold 85,000 shares of company stock valued at $3,675,681. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after buying an additional 350 shares during the period. Arizona State Retirement System grew its holdings in Vera Therapeutics by 14.4% during the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock worth $358,000 after acquiring an additional 1,250 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after purchasing an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vera Therapeutics by 30.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after purchasing an additional 1,737 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Vera Therapeutics by 19.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock worth $610,000 after purchasing an additional 2,200 shares during the period. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Trading Down 0.2 %

Shares of VERA stock opened at $42.20 on Friday. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -16.17 and a beta of 1.08. Vera Therapeutics has a 12-month low of $14.20 and a 12-month high of $51.61. The stock’s 50-day moving average price is $45.56 and its 200-day moving average price is $40.72.

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

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.