Vera Therapeutics (NASDAQ:VERA) Given “Overweight” Rating at Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $107.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 167.23% from the stock’s previous close.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $51.75.

Vera Therapeutics Price Performance

VERA traded up $2.53 on Monday, hitting $40.04. 228,413 shares of the company were exchanged, compared to its average volume of 914,808. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The business’s fifty day moving average is $37.00 and its 200 day moving average is $39.20. Vera Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $50.78. The firm has a market capitalization of $2.19 billion, a P/E ratio of -19.37 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, sell-side analysts anticipate that Vera Therapeutics will post -2.59 EPS for the current year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds have recently modified their holdings of VERA. Avoro Capital Advisors LLC bought a new position in shares of Vera Therapeutics in the first quarter valued at $227,027,000. Kynam Capital Management LP grew its holdings in Vera Therapeutics by 23.5% during the 4th quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after acquiring an additional 694,286 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Vera Therapeutics during the 1st quarter worth approximately $103,189,000. Vanguard Group Inc. boosted its stake in shares of Vera Therapeutics by 31.5% in 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 last quarter. Finally, Samlyn Capital LLC boosted its stake in shares of Vera Therapeutics by 90.8% in the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock valued at $44,571,000 after purchasing an additional 586,410 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.