Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $38.00

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price objective boosted by equities research analysts at Wedbush from $30.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Wedbush's price objective suggests a potential downside of 20.98% from the company's current price.

Other equities research analysts have also issued research reports about the company. Scotiabank assumed coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a report on Monday, September 16th. Finally, Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $54.33.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded down $0.95 during trading hours on Friday, hitting $48.09. 614,461 shares of the company's stock traded hands, compared to its average volume of 914,612. Vera Therapeutics has a 12-month low of $10.79 and a 12-month high of $50.78. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.77 and a beta of 1.03. The company has a fifty day simple moving average of $41.33 and a 200-day simple moving average of $39.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities research analysts anticipate that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Beth C. Seidenberg sold 15,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $6,318,490.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were 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 $6,318,490.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,398 shares of company stock worth $4,376,163 in the last quarter. 21.70% of the stock is owned by insiders.

Institutional Trading of Vera Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Vera Therapeutics during the second quarter valued at approximately $135,000. Ameritas Investment Partners Inc. increased its stake in shares of Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company's stock valued at $172,000 after buying an additional 688 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vera Therapeutics during the second quarter valued at approximately $163,000. Finally, Cetera Advisors LLC purchased a new position in shares of Vera Therapeutics during the first quarter valued at approximately $235,000. 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.