Vera Therapeutics (NASDAQ:VERA) Stock Price Up 7.3% – What’s Next?

Vera Therapeutics, Inc. (NASDAQ:VERA) shares traded up 7.3% on Friday . The stock traded as high as $43.48 and last traded at $43.32. 381,550 shares were traded during trading, a decline of 58% from the average session volume of 906,345 shares. The stock had previously closed at $40.38.

Analysts Set New Price Targets

VERA has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Guggenheim boosted their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday. Scotiabank initiated coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Finally, Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Vera Therapeutics presently has a consensus rating of “Buy” and an average price target of $53.56.

Vera Therapeutics Stock Up 9.5 %

The stock has a market cap of $2.43 billion, a P/E ratio of -18.27 and a beta of 1.00. The firm has a 50 day simple moving average of $40.43 and a 200-day simple moving average of $38.92. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, equities research analysts forecast that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,398 shares of company stock worth $4,376,163. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several large investors have recently modified their holdings of VERA. Avoro Capital Advisors LLC bought a new stake in Vera Therapeutics during the first quarter worth about $227,027,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Vera Therapeutics during the 1st quarter worth approximately $103,189,000. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 515,106 shares in the last quarter. Samlyn Capital LLC boosted its position in shares of Vera Therapeutics by 90.8% during the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after acquiring an additional 586,410 shares in the last quarter. Finally, First Light Asset Management LLC increased its stake in Vera Therapeutics by 130.6% in the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock valued at $36,387,000 after acquiring an additional 569,590 shares during 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.