Vera Therapeutics (NASDAQ:VERA) Shares Up 7.3% - Here's Why

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s stock price was up 7.3% on Friday . The stock traded as high as $43.48 and last traded at $43.32. Approximately 381,550 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 906,345 shares. The stock had previously closed at $40.38.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VERA. Guggenheim raised their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. Scotiabank started coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $53.56.

Vera Therapeutics Trading Up 8.5 %

The stock has a market cap of $2.40 billion, a PE ratio of -19.74 and a beta of 1.00. The firm has a 50-day moving average price of $40.43 and a 200-day moving average price of $38.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the completion of the transaction, the chief executive officer now owns 322,667 shares in the company, valued at $12,829,239.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marshall Fordyce sold 14,471 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total transaction of $575,366.96. Following the sale, the chief executive officer now owns 322,667 shares of the company's stock, valued at $12,829,239.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,398 shares of company stock worth $4,376,163. Insiders own 21.70% of the company's stock.

Institutional Trading of Vera Therapeutics

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock worth $86,000 after buying an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Vera Therapeutics during the 2nd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vera Therapeutics in the 2nd quarter worth $163,000. Ameritas Investment Partners Inc. raised 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 worth $172,000 after purchasing an additional 688 shares during the period. Finally, Cetera Advisors LLC purchased a new position in Vera Therapeutics during the first quarter valued at $235,000. Institutional investors 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.