Cantor Fitzgerald Reaffirms "Overweight" Rating for Vera Therapeutics (NASDAQ:VERA)

Vera Therapeutics (NASDAQ:VERA - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $107.00 price objective on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 166.83% from the company's current price.

Separately, JPMorgan Chase & Co. lifted 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 one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $51.75.

Vera Therapeutics Price Performance

Shares of VERA stock traded up $2.59 during trading hours on Monday, hitting $40.10. The company's stock had a trading volume of 734,906 shares, compared to its average volume of 917,654. 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 business has a fifty day moving average of $37.08 and a 200-day moving average of $39.15. Vera Therapeutics has a twelve month low of $9.24 and a twelve month high of $50.78. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -19.56 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). As a group, equities research analysts anticipate that Vera Therapeutics will post -2.59 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the firm's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VERA. Public Employees Retirement Association of Colorado purchased a new stake in Vera Therapeutics during the 2nd quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vera Therapeutics in the second quarter valued at $163,000. Ameritas Investment Partners Inc. boosted its stake in Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company's stock valued at $172,000 after acquiring an additional 688 shares during the last quarter. Cetera Advisors LLC bought a new position in Vera Therapeutics during the 1st quarter valued at $235,000. Finally, Quarry LP acquired a new position in Vera Therapeutics during the 2nd quarter worth $235,000. Hedge funds and other 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.