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Vera Therapeutics, Inc. (NASDAQ:VERA) Given Average Rating of "Buy" by Brokerages

Vera Therapeutics logo with Medical background

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) has received an average recommendation of "Buy" from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.50.

VERA has been the subject of several recent research reports. Wells Fargo & Company began coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an "overweight" rating and a $70.00 price target for the company. 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. Guggenheim increased their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised 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.

Get Our Latest Research Report on Vera Therapeutics

Vera Therapeutics Trading Down 2.4 %

NASDAQ VERA traded down $1.04 during mid-day trading on Friday, reaching $41.41. 1,801,066 shares of the stock were exchanged, compared to its average volume of 872,473. The stock has a market cap of $2.62 billion, a P/E ratio of -15.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a one year low of $14.20 and a one year high of $51.61. The stock has a 50 day simple moving average of $45.40 and a 200-day simple moving average of $40.59.

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

Insider Activity

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares of the company's stock, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marshall Fordyce sold 15,625 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at approximately $11,776,849.28. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,000 shares of company stock valued at $3,675,681. Corporate 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 added to or reduced their stakes in VERA. Lord Abbett & CO. LLC increased its stake in Vera Therapeutics by 41.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company's stock worth $18,830,000 after buying an additional 124,197 shares in the last quarter. Geode Capital Management LLC boosted its stake in Vera Therapeutics by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company's stock worth $44,415,000 after purchasing an additional 20,223 shares during the period. Barclays PLC grew its holdings in Vera Therapeutics by 94.1% during the 3rd quarter. Barclays PLC now owns 85,395 shares of the company's stock valued at $3,774,000 after buying an additional 41,394 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Vera Therapeutics by 283.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 30,911 shares of the company's stock worth $1,366,000 after acquiring an additional 22,843 shares during the last quarter. Finally, Pier Capital LLC bought a new stake in Vera Therapeutics in the 3rd quarter valued at $4,573,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

About Vera Therapeutics

(Get Free Report

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.

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Analyst Recommendations for Vera Therapeutics (NASDAQ:VERA)

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