Wolfe Research Upgrades Vera Therapeutics (NASDAQ:VERA) to Strong-Buy

Vera Therapeutics (NASDAQ:VERA - Get Free Report) was upgraded by equities research analysts at Wolfe Research to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on VERA. Wedbush increased their price target on Vera Therapeutics from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $58.00 price target for the company. 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 for the company. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an "overweight" rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $65.44.

Vera Therapeutics Trading Up 0.1 %

VERA traded up $0.04 on Monday, hitting $38.11. The company had a trading volume of 479,249 shares, compared to its average volume of 713,924. The company has a market cap of $2.41 billion, a PE ratio of -14.60 and a beta of 1.11. Vera Therapeutics has a 12-month low of $31.77 and a 12-month 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. The business's fifty day simple moving average is $41.21 and its 200 day simple moving average is $40.98.

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 for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities research analysts expect that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares of the company's stock, valued at approximately $3,701,521.94. This represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 52,500 shares of company stock valued at $2,305,625. Company insiders own 21.70% of the company's stock.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $86,000 after acquiring an additional 350 shares in the last quarter. KBC Group NV increased its position in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after acquiring an additional 1,387 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Vera Therapeutics in the third quarter worth $332,000. SG Americas Securities LLC increased its position in shares of Vera Therapeutics by 117.5% in the third quarter. SG Americas Securities LLC now owns 9,354 shares of the company's stock worth $413,000 after acquiring an additional 5,053 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Vera Therapeutics by 109.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company's stock worth $416,000 after acquiring an additional 4,914 shares in the last quarter. Institutional investors and hedge funds 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.