Vera Therapeutics (NASDAQ:VERA) Rating Reiterated by Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $107.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 142.08% from the company’s current price.

A number of other research firms also recently issued reports on VERA. JPMorgan Chase & Co. increased their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Vera Therapeutics currently has an average rating of “Buy” and an average target price of $51.75.

Vera Therapeutics Price Performance

NASDAQ:VERA opened at $44.20 on Tuesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -21.56 and a beta of 0.99. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $38.61 and its two-hundred day moving average is $39.04. Vera Therapeutics has a 12-month low of $9.24 and a 12-month high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last released 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). Research analysts expect that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

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

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VERA. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Vera Therapeutics in the 2nd quarter worth about $1,353,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vera Therapeutics during the 2nd quarter valued at about $163,000. Quarry LP acquired a new stake in Vera Therapeutics in the 2nd quarter worth approximately $235,000. Algert Global LLC lifted its holdings in Vera Therapeutics by 38.9% in the 2nd quarter. Algert Global LLC now owns 17,254 shares of the company’s stock worth $624,000 after purchasing an additional 4,834 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Vera Therapeutics by 28.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,037 shares of the company’s stock worth $3,692,000 after purchasing an additional 22,337 shares during the last quarter. 99.21% of the stock is currently owned by 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.