Analysts Set Vera Therapeutics, Inc. (NASDAQ:VERA) Price Target at $32.29

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.29.

Several equities analysts have recently issued reports on the stock. Wedbush raised their price target on shares of Vera Therapeutics from $21.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Raymond James raised Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $29.00 to $37.00 in a report on Friday, January 26th. Guggenheim reiterated a “buy” rating and issued a $56.00 price target on shares of Vera Therapeutics in a research report on Friday, April 5th. Oppenheimer initiated coverage on Vera Therapeutics in a research report on Thursday, January 25th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Vera Therapeutics in a report on Monday, January 8th. They issued an “overweight” rating on the stock.

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $39.52 on Friday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.26 and a beta of 1.05. The company has a current ratio of 7.71, a quick ratio of 7.71 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $43.47 and its 200-day moving average price is $26.48. Vera Therapeutics has a 12 month low of $6.07 and a 12 month high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Wednesday, March 20th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.05). Equities research analysts forecast that Vera Therapeutics will post -2.18 EPS for the current year.

Insider Activity

In related news, CFO Sean Grant sold 99,828 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the completion of the sale, the chief financial officer now owns 66,337 shares of the company’s stock, valued at $2,627,608.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Sean Grant sold 99,828 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the transaction, the chief financial officer now owns 66,337 shares in the company, valued at approximately $2,627,608.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maha Katabi sold 81,009 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $44.20, for a total transaction of $3,580,597.80. Following the completion of the sale, the director now owns 3,547,437 shares of the company’s stock, valued at $156,796,715.40. The disclosure for this sale can be found here. Insiders have sold 526,551 shares of company stock valued at $21,533,345 in the last ninety days. 21.70% of the stock is owned by company insiders.

Institutional Trading of Vera Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kynam Capital Management LP grew its stake in Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after acquiring an additional 694,286 shares during the period. Vanguard Group Inc. grew its position in Vera Therapeutics by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,574,390 shares of the company’s stock valued at $21,585,000 after purchasing an additional 134,125 shares during the period. Schroder Investment Management Group bought a new stake in Vera Therapeutics during the 4th quarter valued at $17,087,000. Sectoral Asset Management Inc. raised its holdings in Vera Therapeutics by 1.6% during the third quarter. Sectoral Asset Management Inc. now owns 357,139 shares of the company’s stock worth $4,896,000 after buying an additional 5,493 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in shares of Vera Therapeutics by 25.2% in the fourth quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after buying an additional 34,381 shares in the last quarter. 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.