Vera Therapeutics (NASDAQ:VERA) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $49.00 target price on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective for the company. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price on the stock. Scotiabank assumed coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective for the company. Finally, Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Vera Therapeutics presently has an average rating of “Buy” and an average price target of $65.44.

Vera Therapeutics Stock Up 4.2 %

VERA opened at $38.07 on Tuesday. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -14.59 and a beta of 1.15. The business has a 50 day moving average of $41.21 and a 200-day moving average of $40.98. Vera Therapeutics has a 1-year low of $31.77 and a 1-year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, sell-side analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 52,500 shares of company stock worth $2,305,625. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. KBC Group NV lifted its position in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after purchasing an additional 1,387 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Vera Therapeutics by 19.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock worth $610,000 after acquiring an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Vera Therapeutics by 27.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock valued at $568,000 after purchasing an additional 2,882 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its stake in Vera Therapeutics by 8.4% in the third quarter. Point72 DIFC Ltd now owns 43,789 shares of the company’s stock valued at $1,935,000 after buying an additional 3,376 shares in the last quarter. 99.21% of the stock is owned by 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.