Vera Therapeutics (NASDAQ:VERA) Stock Rating Reaffirmed by Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $107.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 167.37% from the company’s previous close.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Vera Therapeutics has an average rating of “Buy” and a consensus price target of $51.75.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $40.02 on Monday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -19.52 and a beta of 0.99. 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 business has a 50-day simple moving average of $37.18 and a 200 day simple moving average of $39.08. Vera Therapeutics has a 52 week low of $9.24 and a 52 week high of $50.78.

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

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Crestline Management LP increased its stake in Vera Therapeutics by 32.4% in the 4th quarter. Crestline Management LP now owns 60,069 shares of the company’s stock worth $924,000 after purchasing an additional 14,689 shares during the period. Rafferty Asset Management LLC raised its position in Vera Therapeutics by 25.2% during the 4th quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after purchasing an additional 34,381 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Vera Therapeutics in the 4th quarter worth approximately $17,087,000. Pale Fire Capital SE bought a new stake in shares of Vera Therapeutics in the 4th quarter worth approximately $252,000. Finally, Kynam Capital Management LP increased its stake in shares of Vera Therapeutics by 23.5% during the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after buying an additional 694,286 shares during the period. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.