Vera Therapeutics (NASDAQ:VERA) Coverage Initiated at Wolfe Research

Wolfe Research began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report released on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $49.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Wedbush boosted their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, Guggenheim raised their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock 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 issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vera Therapeutics has a consensus rating of “Buy” and a consensus target price of $65.44.

Vera Therapeutics Stock Performance

Shares of VERA opened at $38.07 on Tuesday. The firm’s fifty day simple moving average is $41.21 and its two-hundred day simple moving average is $40.98. Vera Therapeutics has a 12 month low of $31.77 and a 12 month high of $51.61. The stock has a market capitalization of $2.41 billion, a P/E ratio of -14.59 and a beta of 1.15. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). As a group, analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 52,500 shares of company stock valued at $2,305,625 in the last three months. 21.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds have recently bought and sold shares of VERA. First Turn Management LLC raised its stake in shares of Vera Therapeutics by 53.3% in the third quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after purchasing an additional 113,550 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Vera Therapeutics by 116.7% in the fourth quarter. SG Americas Securities LLC now owns 20,270 shares of the company’s stock worth $857,000 after buying an additional 10,916 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after purchasing an additional 124,197 shares in the last quarter. Barclays PLC boosted its holdings in Vera Therapeutics by 94.1% in the 3rd quarter. Barclays PLC now owns 85,395 shares of the company’s stock worth $3,774,000 after buying an additional 41,394 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Vera Therapeutics by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after acquiring an additional 10,717 shares during the period. Institutional investors own 99.21% of the company’s stock.

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.