Wedbush Issues Positive Forecast for Vera Therapeutics (NASDAQ:VERA) Stock Price

Vera Therapeutics (NASDAQ:VERA) had its price objective boosted by equities researchers at Wedbush from $30.00 to $38.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s target price suggests a potential downside of 20.08% from the company’s current price.

A number of other research analysts have also weighed in on 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. Scotiabank assumed coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Guggenheim upped their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $54.33.

Vera Therapeutics Stock Down 3.0 %

Shares of NASDAQ VERA traded down $1.49 during midday trading on Friday, hitting $47.55. 43,840 shares of the stock traded hands, compared to its average volume of 911,983. The company has a market cap of $2.61 billion, a PE ratio of -21.52 and a beta of 1.03. The business has a 50 day moving average price of $41.33 and a two-hundred day moving average price of $39.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. Vera Therapeutics has a one year low of $10.79 and a one year high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last announced 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). On average, equities analysts predict that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Activity at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 15,000 shares of the 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 directly owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction dated 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 directly 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. In the last quarter, insiders sold 104,398 shares of company stock worth $4,376,163. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VERA. William Marsh Rice University acquired a new stake in shares of Vera Therapeutics in the 2nd quarter worth about $593,000. Cambridge Trust Co. lifted its stake in Vera Therapeutics by 386.6% during the first quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock valued at $2,074,000 after purchasing an additional 38,220 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Vera Therapeutics in the first quarter valued at $9,727,000. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 32,800 shares during the period. Finally, Vanguard Group Inc. raised its stake in Vera Therapeutics by 31.5% during the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after purchasing an additional 515,106 shares during the period. 99.21% of the stock is currently 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.