Brokerages Set Vera Therapeutics, Inc. (NASDAQ:VERA) PT at $59.22

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.22.

Several equities research analysts have weighed in on VERA shares. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company initiated coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target on the stock.

Insider Activity

In other Vera Therapeutics news, CEO Marshall Fordyce sold 19,375 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at $12,438,989.08. This represents a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at $6,737,395.76. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,927 shares of company stock valued at $3,800,796 in the last ninety days. 21.70% of the stock is owned by insiders.

Institutional Trading of Vera Therapeutics

A number of large investors have recently bought and sold shares of the business. William Marsh Rice University acquired a new position in shares of Vera Therapeutics in the second quarter valued at approximately $593,000. Renaissance Technologies LLC lifted its position in Vera Therapeutics by 28.5% in the 2nd quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock valued at $5,347,000 after acquiring an additional 32,800 shares in the last quarter. First Turn Management LLC boosted its stake in Vera Therapeutics by 53.3% in the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after purchasing an additional 113,550 shares during the period. Vanguard Group Inc. increased its holdings in Vera Therapeutics by 31.5% during the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after purchasing an additional 515,106 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Vera Therapeutics in the 2nd quarter valued at about $652,000. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Trading Up 0.7 %

VERA stock opened at $48.46 on Monday. The business has a fifty day moving average price of $44.61 and a 200 day moving average price of $40.05. 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 has a fifty-two week low of $13.09 and a fifty-two week high of $51.61. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -18.57 and a beta of 1.08.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Analysts expect that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

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.