Vera Therapeutics (NASDAQ:VERA) Posts Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Vera Therapeutics (NASDAQ:VERA) posted its quarterly earnings results on Thursday. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21), Briefing.com reports.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded down $0.61 on Friday, reaching $48.43. The stock had a trading volume of 352,215 shares, compared to its average volume of 913,404. The business’s 50-day moving average price is $41.33 and its two-hundred day moving average price is $39.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. Vera Therapeutics has a fifty-two week low of $10.79 and a fifty-two week high of $50.78. The stock has a market cap of $2.66 billion, a P/E ratio of -21.52 and a beta of 1.03.

Insider Transactions at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marshall Fordyce sold 23,125 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $14,182,110.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of the business’s 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 transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,398 shares of company stock worth $4,376,163. 21.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VERA. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday. Wedbush lifted their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday. Guggenheim lifted their target price 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. Scotiabank started coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price for the company. Finally, Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Vera Therapeutics has a consensus rating of “Buy” and an average price target of $54.33.

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.