Vera Therapeutics (NASDAQ:VERA) Trading 7% Higher

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) rose 7% on Monday . The stock traded as high as $46.60 and last traded at $46.49. Approximately 123,828 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 907,994 shares. The stock had previously closed at $43.44.

Wall Street Analyst Weigh In

VERA has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Monday, September 23rd. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $51.75.

Vera Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The stock’s 50 day simple moving average is $38.40 and its two-hundred day simple moving average is $39.03.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marshall Fordyce sold 23,125 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $14,182,110.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marshall Fordyce sold 23,125 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $14,182,110.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics 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 of the company’s stock, valued at $6,737,395.76. The disclosure for this sale can be found here. In the last three months, insiders sold 54,398 shares of company stock valued at $2,275,656. 21.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VERA. Public Employees Retirement Association of Colorado bought a new position in shares of Vera Therapeutics in the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vera Therapeutics during the second quarter worth about $163,000. Ameritas Investment Partners Inc. increased its holdings in Vera Therapeutics by 20.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after buying an additional 688 shares during the period. Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics in the 1st quarter valued at approximately $235,000. Finally, Quarry LP bought a new stake in Vera Therapeutics during the second quarter worth $235,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.