Vera Therapeutics (NASDAQ:VERA) Trading 3.5% Higher

Vera Therapeutics, Inc. (NASDAQ:VERA) was up 3.5% on Tuesday . The company traded as high as $40.80 and last traded at $40.77. Approximately 192,664 shares traded hands during trading, a decline of 80% from the average daily volume of 973,140 shares. The stock had previously closed at $39.40.

Wall Street Analysts Forecast Growth

VERA has been the subject of several research reports. Raymond James raised their price objective on shares of Vera Therapeutics from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. reduced their target price on Vera Therapeutics from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.43.

Vera Therapeutics Stock Down 2.1 %

The stock’s fifty day moving average is $36.24 and its two-hundred day moving average is $39.94. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.14 billion, a P/E ratio of -19.08 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, research analysts anticipate that Vera Therapeutics, Inc. will post -2.59 earnings per share for the current year.

Institutional Trading of Vera Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. William Marsh Rice University purchased a new stake in Vera Therapeutics in the second quarter worth $593,000. Cambridge Trust Co. lifted its position in 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 purchasing an additional 38,220 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Vera Therapeutics during the 1st quarter valued at $9,727,000. Jennison Associates LLC purchased a new position in Vera Therapeutics in the first quarter worth about $3,231,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after buying an additional 515,106 shares during 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.