Vera Therapeutics (NASDAQ:VERA) Earns Overweight Rating from Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company started coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report released on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $70.00 price target on the stock. Wells Fargo & Company‘s target price points to a potential upside of 53.01% from the stock’s current price.

A number of other analysts have also weighed in on VERA. Scotiabank started coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. Wedbush lifted their price target on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Guggenheim lifted their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, 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 report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Vera Therapeutics has a consensus rating of “Buy” and an average price target of $59.22.

Vera Therapeutics Stock Down 0.3 %

NASDAQ VERA opened at $45.75 on Thursday. Vera Therapeutics has a fifty-two week low of $12.28 and a fifty-two week high of $51.61. The business has a fifty day moving average price of $43.03 and a two-hundred day moving average price of $39.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock has a market capitalization of $2.90 billion, a PE ratio of -17.53 and a beta of 1.03.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities analysts expect that Vera Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In related news, Director Beth C. Seidenberg sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares of the company’s stock, valued at $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,927 shares of company stock worth $3,800,796 over the last quarter. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $86,000 after acquiring an additional 350 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Vera Therapeutics in the second quarter valued at about $135,000. Ameritas Investment Partners Inc. grew 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vera Therapeutics during the 2nd quarter worth approximately $163,000. Finally, Cetera Advisors LLC bought a new stake in shares of Vera Therapeutics in the 1st quarter worth 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.