Vera Therapeutics (NASDAQ:VERA) Given New $38.00 Price Target at Wedbush

Vera Therapeutics (NASDAQ:VERA) had its price objective increased by Wedbush from $30.00 to $38.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. Scotiabank assumed coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price target on the stock. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Guggenheim increased their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $57.88.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA opened at $48.67 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The firm has a market cap of $2.67 billion, a PE ratio of -18.65 and a beta of 1.03. Vera Therapeutics has a one year low of $11.69 and a one year high of $50.78. The firm has a fifty day moving average of $41.75 and a 200 day moving average of $39.23.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, research analysts predict that Vera Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the company’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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the sale, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics 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 transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,398 shares of company stock valued at $4,376,163. 21.70% of the stock is currently owned by insiders.

Institutional Trading of Vera Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Avoro Capital Advisors LLC acquired a new stake in shares of Vera Therapeutics during the first quarter worth about $227,027,000. Price T Rowe Associates Inc. MD purchased a new stake in Vera Therapeutics during the first quarter worth about $103,189,000. Samlyn Capital LLC grew its holdings in shares of Vera Therapeutics by 90.8% in the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after acquiring an additional 586,410 shares during the period. First Light Asset Management LLC increased its stake in Vera Therapeutics by 130.6% in the 2nd quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock valued at $36,387,000 after purchasing an additional 569,590 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Vera Therapeutics by 31.5% during the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after purchasing an additional 515,106 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.