Vera Therapeutics (NASDAQ:VERA) Trading Up 4.9% – Still a Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price traded up 4.9% on Wednesday . The stock traded as high as $38.01 and last traded at $37.73. 165,844 shares changed hands during trading, a decline of 77% from the average session volume of 714,705 shares. The stock had previously closed at $35.98.

Wall Street Analysts Forecast Growth

VERA has been the subject of a number of research analyst reports. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price for the company. Wedbush increased their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a report on Tuesday. They issued a “buy” rating and a $58.00 price target on the stock. Guggenheim boosted their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price target 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vera Therapeutics currently has an average rating of “Buy” and an average target price of $67.50.

Vera Therapeutics Price Performance

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -14.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The company has a 50-day moving average of $42.18 and a 200-day moving average of $40.91.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data 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). As a group, research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity

In related news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total transaction of $753,725.00. Following the transaction, the chief executive officer now directly owns 85,942 shares of the company’s stock, valued at approximately $3,701,521.94. The trade was a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 52,500 shares of company stock worth $2,305,625 in the last quarter. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of large investors have recently made changes to their positions in VERA. First Turn Management LLC grew 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 worth $14,431,000 after buying an additional 113,550 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Vera Therapeutics by 41.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after acquiring an additional 124,197 shares during the period. Barclays PLC increased its position in Vera Therapeutics by 94.1% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. boosted its position in Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after acquiring an additional 10,717 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Vera Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock worth $44,415,000 after acquiring an additional 20,223 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

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.