Vera Therapeutics (NASDAQ:VERA) Coverage Initiated by Analysts at Scotiabank

Scotiabank began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a sector outperform rating and a $60.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on VERA. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $52.67.

Vera Therapeutics Price Performance

VERA stock opened at $41.16 on Wednesday. Vera Therapeutics has a 52-week low of $9.24 and a 52-week high of $50.78. 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 fifty day moving average of $39.87 and a two-hundred day moving average of $38.89. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -20.08 and a beta of 1.00.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, research analysts anticipate that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insider Activity at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $14,182,110.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $14,182,110.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now directly owns 160,376 shares of the company’s stock, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,023 shares of company stock worth $2,873,156. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 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 acquired a new stake in shares of Vera Therapeutics during the first quarter worth about $103,189,000. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. 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 worth $44,571,000 after purchasing an additional 586,410 shares in the last quarter. Finally, First Light Asset Management LLC increased its position in shares of Vera Therapeutics by 130.6% during the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock worth $36,387,000 after purchasing an additional 569,590 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.