Vera Therapeutics (NASDAQ:VERA) Price Target Lowered to $71.00 at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its price objective decreased by JPMorgan Chase & Co. from $77.00 to $71.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on VERA. Wells Fargo & Company began coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an “overweight” rating and a $70.00 price target for the company. Wedbush lifted their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group began coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price on the stock. Wolfe Research assumed coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target for the company. Finally, Guggenheim raised their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $64.67.

Vera Therapeutics Stock Performance

Shares of NASDAQ VERA opened at $29.30 on Tuesday. The company has a market cap of $1.86 billion, a P/E ratio of -11.23 and a beta of 1.17. Vera Therapeutics has a 52-week low of $25.99 and a 52-week high of $51.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The firm’s fifty day moving average is $34.70 and its two-hundred day moving average is $40.07.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.11. As a group, analysts anticipate that Vera Therapeutics will post -2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total value of $753,725.00. Following the transaction, the chief executive officer now owns 85,942 shares in the company, valued at approximately $3,701,521.94. This represents a 16.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is owned by company insiders.

Institutional Trading of Vera Therapeutics

Several large investors have recently made changes to their positions in VERA. Avoro Capital Advisors LLC grew its holdings in Vera Therapeutics by 30.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company’s stock worth $237,247,000 after acquiring an additional 1,300,410 shares during the period. Price T Rowe Associates Inc. MD raised its position in Vera Therapeutics by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company’s stock worth $185,107,000 after acquiring an additional 437,940 shares during the period. FMR LLC raised its position in shares of Vera Therapeutics by 9.6% during the 4th quarter. FMR LLC now owns 3,053,126 shares of the company’s stock worth $129,117,000 after purchasing an additional 267,842 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company’s stock valued at $124,737,000 after acquiring an additional 369,387 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company’s stock worth $86,390,000 after acquiring an additional 158,451 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other 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.