Vera Therapeutics (NASDAQ:VERA) Upgraded to “Strong-Buy” by Evercore ISI

Evercore ISI upgraded shares of Vera Therapeutics (NASDAQ:VERA) to a strong-buy rating in a report published on Monday, Zacks.com reports.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an overweight rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research report on Monday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average target price of $51.75.

Vera Therapeutics Stock Down 0.2 %

Shares of NASDAQ VERA opened at $40.02 on Monday. Vera Therapeutics has a 1 year low of $9.24 and a 1 year high of $50.78. The firm has a 50-day simple moving average of $37.18 and a two-hundred day simple moving average of $39.08. The company has a market cap of $2.19 billion, a P/E ratio of -19.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly 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). Research analysts anticipate that Vera Therapeutics will post -2.59 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the completion of the sale, the chief executive officer now owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VERA. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vera Therapeutics in the second quarter valued at about $163,000. Quarry LP bought a new stake in shares of Vera Therapeutics in the 2nd quarter valued at about $235,000. Algert Global LLC grew its position in shares of Vera Therapeutics by 38.9% in the 2nd quarter. Algert Global LLC now owns 17,254 shares of the company’s stock worth $624,000 after buying an additional 4,834 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Vera Therapeutics by 28.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,037 shares of the company’s stock worth $3,692,000 after acquiring an additional 22,337 shares in the last quarter. Finally, Decheng Capital LLC purchased a new stake in Vera Therapeutics during the second quarter valued at approximately $2,524,000. 99.21% of the stock is 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.