Vera Therapeutics (NASDAQ:VERA) Stock Price Up 7.7% – Here’s What Happened

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price was up 7.7% during trading on Monday . The company traded as high as $37.91 and last traded at $37.7750. Approximately 248,933 shares traded hands during trading, a decline of 78% from the average session volume of 1,132,225 shares. The stock had previously closed at $35.09.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen restated a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $60.00 price target on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Wolfe Research raised Vera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research note on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Monday, April 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $90.00 target price on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Vera Therapeutics Price Performance

The firm has a market cap of $2.74 billion, a P/E ratio of -6.89 and a beta of 0.93. The company has a quick ratio of 13.64, a current ratio of 13.64 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $36.43 and its two-hundred day moving average is $41.54.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.33) by ($0.36). During the same quarter last year, the company earned ($0.81) EPS. As a group, analysts anticipate that Vera Therapeutics, Inc. will post -6.23 earnings per share for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $36.74, for a total transaction of $679,690.00. Following the completion of the sale, the chief executive officer owned 216,744 shares of the company’s stock, valued at $7,963,174.56. This trade represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Vera Therapeutics by 26.7% during the 1st quarter. Janus Henderson Group PLC now owns 17,658 shares of the company’s stock worth $710,000 after buying an additional 3,723 shares during the period. ADAR1 Capital Management LLC lifted its position in shares of Vera Therapeutics by 8.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 16,033 shares of the company’s stock valued at $645,000 after acquiring an additional 1,300 shares during the period. California State Teachers Retirement System boosted its stake in Vera Therapeutics by 31.5% during the first quarter. California State Teachers Retirement System now owns 49,737 shares of the company’s stock worth $2,001,000 after acquiring an additional 11,907 shares in the last quarter. Royal Bank of Canada grew its holdings in Vera Therapeutics by 190.6% in the first quarter. Royal Bank of Canada now owns 19,987 shares of the company’s stock worth $804,000 after purchasing an additional 13,108 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Vera Therapeutics by 72.6% in the first quarter. Quantinno Capital Management LP now owns 25,639 shares of the company’s stock worth $1,031,000 after purchasing an additional 10,784 shares during the period. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.