Vera Therapeutics (NASDAQ:VERA) Stock Price Up 5.3% - Here's What Happened

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares rose 5.3% on Wednesday . The company traded as high as $19.65 and last traded at $19.86. Approximately 193,424 shares changed hands during trading, a decline of 75% from the average daily volume of 774,343 shares. The stock had previously closed at $18.86.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VERA. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $58.00 price target for the company. Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price for the company. Guggenheim raised their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. One equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $64.67.

Vera Therapeutics Price Performance

The company has a market capitalization of $1.37 billion, a P/E ratio of -8.24 and a beta of 1.28. The stock's fifty day simple moving average is $27.58 and its 200-day simple moving average is $37.21. 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 announced its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. On average, equities analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of VERA. Huntington National Bank bought a new stake in Vera Therapeutics in the 4th quarter valued at $26,000. AlphaQuest LLC bought a new stake in shares of Vera Therapeutics in the fourth quarter valued at about $34,000. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the fourth quarter worth about $56,000. KBC Group NV increased its stake in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after acquiring an additional 1,387 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares during the period. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Company Profile

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.