Vera Therapeutics (NASDAQ:VERA) Given New $71.00 Price Target at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $77.00 to $71.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 147.04% from the company's current price.

VERA has been the subject of a number of other reports. Wedbush boosted their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Wells Fargo & Company began coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective for the company. The Goldman Sachs Group started coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 target price on the stock. Wolfe Research began coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price on the stock. Finally, Guggenheim upped their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $64.67.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded up $0.33 during trading hours on Tuesday, reaching $28.74. The company had a trading volume of 478,522 shares, compared to its average volume of 893,045. The business has a fifty day simple moving average of $35.47 and a 200 day simple moving average of $40.28. The firm has a market cap of $1.82 billion, a PE ratio of -11.01 and a beta of 1.11. Vera Therapeutics has a one year low of $25.99 and a one year high of $51.61. 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 (NASDAQ:VERA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.11. On average, analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Activity

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics 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 transaction, the chief executive officer now directly owns 85,942 shares in the company, valued at approximately $3,701,521.94. This trade represents a 16.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Vera Therapeutics by 21.4% during 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 in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Vera Therapeutics in the third quarter valued at about $332,000. Chartwell Investment Partners LLC lifted its position in shares of Vera Therapeutics by 63.5% during the third quarter. Chartwell Investment Partners LLC now owns 19,172 shares of the company's stock worth $847,000 after purchasing an additional 7,447 shares in the last quarter. Victory Capital Management Inc. boosted its position in Vera Therapeutics by 13.5% in the 3rd quarter. Victory Capital Management Inc. now owns 38,253 shares of the company's stock valued at $1,691,000 after buying an additional 4,546 shares during the last quarter. Finally, First Turn Management LLC grew its stake in Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company's stock valued at $14,431,000 after purchasing an additional 113,550 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.

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