Vera Therapeutics, Inc. (NASDAQ:VERA) Given Average Recommendation of “Buy” by Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have been given an average recommendation of “Buy” by the eight research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.75.

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $40.02 on Wednesday. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. Vera Therapeutics has a twelve month low of $9.24 and a twelve month high of $50.78. The company has a fifty day moving average of $37.18 and a 200-day moving average of $39.08. The firm has a market capitalization of $2.19 billion, a P/E ratio of -19.52 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, sell-side analysts anticipate that Vera Therapeutics will post -2.59 EPS for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 14,471 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total transaction of $575,366.96. Following the transaction, the chief executive officer now owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Avoro Capital Advisors LLC bought a new stake in Vera Therapeutics in the 1st quarter worth about $227,027,000. Kynam Capital Management LP boosted its stake in shares of Vera Therapeutics by 23.5% in the 4th quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after buying an additional 694,286 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Vera Therapeutics in the first quarter valued at approximately $103,189,000. Vanguard Group Inc. grew its holdings in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after acquiring an additional 515,106 shares in the last quarter. Finally, Samlyn Capital LLC increased its position in shares of Vera Therapeutics by 90.8% during the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock valued at $44,571,000 after acquiring an additional 586,410 shares during the last quarter. 99.21% of the stock is owned by 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.