Vera Therapeutics (NASDAQ:VERA) Trading 7% Higher

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price traded up 7% on Monday . The company traded as high as $46.60 and last traded at $46.49. 123,828 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 907,994 shares. The stock had previously closed at $43.44.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Tuesday. Finally, Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $51.75.

Vera Therapeutics Stock Down 3.1 %

The company’s fifty day moving average is $38.76 and its 200-day moving average is $39.03. The company has a market capitalization of $2.35 billion, a PE ratio of -20.89 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, analysts predict that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $14,182,110.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares in the company, valued at approximately $6,737,395.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marshall Fordyce sold 23,125 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total value of $1,064,906.25. Following the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $14,182,110.60. The disclosure for this sale can be found here. Insiders sold 54,398 shares of company stock worth $2,275,656 in the last three months. 21.70% of the stock is owned by company insiders.

Institutional Trading of Vera Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. William Marsh Rice University purchased a new stake in Vera Therapeutics during the 2nd quarter valued at $593,000. Cambridge Trust Co. increased its stake in shares of Vera Therapeutics by 386.6% during the first quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock valued at $2,074,000 after buying an additional 38,220 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Vera Therapeutics during the first quarter valued at $9,727,000. Renaissance Technologies LLC increased its stake in shares of Vera Therapeutics by 28.5% during the second quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock valued at $5,347,000 after buying an additional 32,800 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Vera Therapeutics during the first quarter valued at $3,231,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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.