Vera Therapeutics (NASDAQ:VERA) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $70.00 target price on the stock.

A number of other analysts have also recently issued reports on the stock. Wedbush increased their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Scotiabank started coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Guggenheim increased their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $59.22.

Vera Therapeutics Stock Up 2.7 %

Shares of Vera Therapeutics stock opened at $48.31 on Thursday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of -18.51 and a beta of 1.03. The company’s 50 day moving average is $43.47 and its 200 day moving average is $39.55. Vera Therapeutics has a twelve month low of $12.28 and a twelve month high of $51.61. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Research analysts anticipate that Vera Therapeutics will post -2.85 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 23,125 shares of the 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 of the company’s stock, valued at approximately $14,182,110.60. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Beth C. Seidenberg sold 15,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the sale, the director now directly owns 131,553 shares in the company, valued at $6,318,490.59. This represents a 10.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,927 shares of company stock valued at $3,800,796 over the last 90 days. 21.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Vera Therapeutics

Several hedge funds have recently made changes to their positions in the business. Avoro Capital Advisors LLC acquired a new stake in Vera Therapeutics in the first quarter valued at approximately $227,027,000. Price T Rowe Associates Inc. MD acquired a new stake in Vera Therapeutics in the first quarter valued at approximately $103,189,000. Vanguard Group Inc. raised its holdings in 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. Holocene Advisors LP raised its holdings in Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock valued at $86,390,000 after acquiring an additional 158,451 shares in the last quarter. Finally, Samlyn Capital LLC raised its holdings in Vera Therapeutics by 90.8% in 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 in the last quarter. 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.