Vera Therapeutics (NASDAQ:VERA) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Vera Therapeutics (NASDAQ:VERA - Free Report) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $49.00 target price on the stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $58.00 price objective for the company. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an "overweight" rating and a $70.00 price target for the company. Guggenheim boosted their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Wedbush raised their target price on Vera Therapeutics from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Scotiabank started coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $65.44.

Vera Therapeutics Stock Performance

VERA stock traded down $1.04 during midday trading on Tuesday, reaching $36.14. The company had a trading volume of 451,048 shares, compared to its average volume of 708,190. The firm has a market capitalization of $2.29 billion, a PE ratio of -13.85 and a beta of 1.11. The stock has a 50 day moving average price of $40.49 and a 200 day moving average price of $40.94. Vera Therapeutics has a fifty-two week low of $31.77 and a fifty-two week high of $51.61. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its 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). Analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current year.

Insider Activity

In related news, CEO Marshall Fordyce sold 17,500 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares of the company's stock, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 52,500 shares of company stock valued at $2,305,625 over the last 90 days. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. First Turn Management LLC increased its stake in Vera Therapeutics by 53.3% during the third quarter. First Turn Management LLC now owns 326,494 shares of the company's stock valued at $14,431,000 after acquiring an additional 113,550 shares during the period. SG Americas Securities LLC grew its holdings in shares of Vera Therapeutics by 116.7% during the 4th quarter. SG Americas Securities LLC now owns 20,270 shares of the company's stock worth $857,000 after purchasing an additional 10,916 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Vera Therapeutics by 41.1% during the third 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 during the period. Barclays PLC raised its stake in shares of Vera Therapeutics by 94.1% in the third quarter. Barclays PLC now owns 85,395 shares of the company's stock valued at $3,774,000 after purchasing an additional 41,394 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Vera Therapeutics by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company's stock worth $15,992,000 after purchasing an additional 10,717 shares during the period. 99.21% of the stock is owned by 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.