Vera Therapeutics (NASDAQ:VERA) Now Covered by Wells Fargo & Company

Equities research analysts at Wells Fargo & Company began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report released on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $70.00 price target on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 53.01% from the company’s current price.

Other analysts have also issued research reports about the stock. 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. Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Guggenheim raised 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. Finally, JPMorgan Chase & Co. increased their price target on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Buy” and an average price target of $59.22.

Vera Therapeutics Price Performance

VERA opened at $45.75 on Thursday. The stock has a market capitalization of $2.90 billion, a P/E ratio of -17.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The company’s 50 day simple moving average is $43.03 and its 200-day simple moving average is $39.51. Vera Therapeutics has a one year low of $12.28 and a one year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly 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). Sell-side analysts anticipate that Vera Therapeutics will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the sale, the chief executive officer now owns 307,972 shares in the company, valued at $11,548,950. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,927 shares of company stock valued at $3,800,796 in the last quarter. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Vera Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after acquiring an additional 20,223 shares in the last quarter. Barclays PLC boosted 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 buying an additional 41,394 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Vera Therapeutics by 283.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 30,911 shares of the company’s stock worth $1,366,000 after acquiring an additional 22,843 shares during the period. Pier Capital LLC bought a new stake in shares of Vera Therapeutics during the 3rd quarter valued at $4,573,000. Finally, Point72 DIFC Ltd grew its holdings in shares of Vera Therapeutics by 8.4% during the 3rd quarter. Point72 DIFC Ltd now owns 43,789 shares of the company’s stock worth $1,935,000 after purchasing an additional 3,376 shares in the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

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.