Vera Therapeutics (NASDAQ:VERA) Announces Quarterly Earnings Results

Vera Therapeutics (NASDAQ:VERA) released its earnings results on Wednesday. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.06), Zacks reports. During the same period in the previous year, the firm earned ($0.85) EPS.

Vera Therapeutics Stock Performance

NASDAQ VERA traded up $1.12 on Thursday, hitting $25.22. The stock had a trading volume of 2,411,908 shares, compared to its average volume of 1,378,319. Vera Therapeutics has a one year low of $18.53 and a one year high of $51.61. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -7.04 and a beta of 1.22. The company’s 50-day moving average is $27.22 and its two-hundred day moving average is $24.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VERA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vera Therapeutics by 7.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,905 shares of the company’s stock worth $753,000 after purchasing an additional 2,210 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Vera Therapeutics by 22.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,013 shares of the company’s stock valued at $2,354,000 after acquiring an additional 17,907 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Vera Therapeutics by 297.1% in the first quarter. Jane Street Group LLC now owns 41,578 shares of the company’s stock valued at $999,000 after acquiring an additional 62,678 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Vera Therapeutics by 550.5% in the second quarter. JPMorgan Chase & Co. now owns 310,547 shares of the company’s stock valued at $7,316,000 after acquiring an additional 262,805 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Vera Therapeutics by 1.7% in the second quarter. Legal & General Group Plc now owns 50,418 shares of the company’s stock valued at $1,188,000 after acquiring an additional 825 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VERA. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vera Therapeutics in a report on Thursday, September 18th. Bank of America began coverage on shares of Vera Therapeutics in a research note on Thursday, October 16th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.