JPMorgan Chase & Co. Increases Vera Therapeutics (NASDAQ:VERA) Price Target to $83.00

Vera Therapeutics (NASDAQ:VERA) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $76.00 to $83.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 136.80% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Wedbush reiterated a “neutral” rating and issued a $34.00 target price on shares of Vera Therapeutics in a report on Monday, August 17th. Evercore set a $91.00 target price on Vera Therapeutics in a research report on Friday, May 15th. Bank of America lifted their price objective on Vera Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $84.00 target price on shares of Vera Therapeutics in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $80.15.

Vera Therapeutics Trading Down 2.3%

VERA traded down $0.84 during trading hours on Tuesday, reaching $35.05. The company’s stock had a trading volume of 254,793 shares, compared to its average volume of 1,498,341. The stock has a market cap of $2.53 billion, a PE ratio of -5.98 and a beta of 0.96. Vera Therapeutics has a fifty-two week low of $22.72 and a fifty-two week high of $56.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.92 and a quick ratio of 10.92. The business’s 50-day moving average is $35.72 and its 200-day moving average is $37.37.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Monday, August 10th. The company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.06. During the same period in the previous year, the company posted ($1.20) earnings per share. As a group, equities research analysts predict that Vera Therapeutics will post -6.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Marshall Fordyce sold 46,250 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $42.30, for a total transaction of $1,956,375.00. Following the completion of the transaction, the chief executive officer directly owned 151,994 shares of the company’s stock, valued at approximately $6,429,346.20. The trade was a 23.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 83,250 shares of company stock valued at $3,307,800. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Vera Therapeutics during the fourth quarter worth $46,000. Quantbot Technologies LP acquired a new position in shares of Vera Therapeutics during the 2nd quarter worth about $51,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Vera Therapeutics in the 4th quarter valued at about $71,000. Nykredit A S acquired a new stake in shares of Vera Therapeutics during the 2nd quarter worth about $97,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Vera Therapeutics by 192.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company’s stock worth $99,000 after acquiring an additional 2,757 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other 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.