JPMorgan Chase & Co. Boosts Vera Therapeutics (NASDAQ:VERA) Price Target to $72.00

Vera Therapeutics (NASDAQ:VERA) had its price target boosted by JPMorgan Chase & Co. from $62.00 to $72.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Raymond James raised their target price on shares of Vera Therapeutics from $57.00 to $68.00 and gave the stock a strong-buy rating in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $43.86.

Vera Therapeutics Trading Down 0.6 %

NASDAQ:VERA opened at $38.16 on Tuesday. Vera Therapeutics has a 52-week low of $9.24 and a 52-week high of $50.78. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $36.78 and a 200-day simple moving average of $39.68. The company has a market capitalization of $2.09 billion, a PE ratio of -18.61 and a beta of 0.99.

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

Insider Activity

In related news, CEO Marshall Fordyce sold 14,471 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the transaction, the chief executive officer now owns 322,667 shares in the company, valued at $12,829,239.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. William Marsh Rice University acquired a new position in Vera Therapeutics during the 2nd quarter worth $593,000. Cambridge Trust Co. increased its holdings in Vera Therapeutics by 386.6% in the first quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock valued at $2,074,000 after buying an additional 38,220 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Vera Therapeutics during the first quarter valued at approximately $9,727,000. Jennison Associates LLC bought a new position in Vera Therapeutics during the 1st quarter worth approximately $3,231,000. Finally, Vanguard Group Inc. grew its position in shares of Vera Therapeutics by 31.5% in the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after acquiring an additional 515,106 shares in the last quarter. 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.