The Goldman Sachs Group Initiates Coverage on Vera Therapeutics (NASDAQ:VERA)

Research analysts at The Goldman Sachs Group started coverage on shares of Vera Therapeutics (NASDAQ:VERA - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $58.00 price target on the stock. The Goldman Sachs Group's price objective points to a potential upside of 61.20% from the stock's current price.

Several other equities analysts also recently issued reports on VERA. JPMorgan Chase & Co. upped their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Scotiabank initiated coverage on Vera Therapeutics in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 target price for the company. Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Finally, 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $67.50.

Vera Therapeutics Stock Up 3.3 %

NASDAQ VERA traded up $1.14 during trading on Tuesday, hitting $35.98. The company's stock had a trading volume of 874,715 shares, compared to its average volume of 750,042. Vera Therapeutics has a fifty-two week low of $29.33 and a fifty-two week high of $51.61. The company has a market cap of $2.28 billion, a PE ratio of -13.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The business's 50 day simple moving average is $42.38 and its 200-day simple moving average is $40.92.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). On average, equities analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total value of $753,725.00. Following the completion of the sale, the chief executive officer now directly owns 85,942 shares in the company, valued at $3,701,521.94. The trade was a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in Vera Therapeutics by 82.0% in the 4th quarter. Jennison Associates LLC now owns 813,861 shares of the company's stock worth $34,418,000 after buying an additional 366,763 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Vera Therapeutics by 27.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company's stock worth $568,000 after acquiring an additional 2,882 shares during the last quarter. KBC Group NV increased its position in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after purchasing an additional 1,387 shares in the last quarter. SG Americas Securities LLC raised its stake in Vera Therapeutics by 116.7% in the 4th quarter. SG Americas Securities LLC now owns 20,270 shares of the company's stock valued at $857,000 after purchasing an additional 10,916 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in Vera Therapeutics by 41.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company's stock valued at $18,830,000 after purchasing an additional 124,197 shares in the last quarter. 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.