Vera Therapeutics (NASDAQ:VERA) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Vera Therapeutics (NASDAQ:VERA) issued its quarterly earnings data on Wednesday. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06), Zacks reports. During the same quarter last year, the firm posted ($0.85) earnings per share.

Vera Therapeutics Trading Down 4.3%

VERA traded down $1.09 during trading on Friday, hitting $24.13. 992,729 shares of the stock were exchanged, compared to its average volume of 1,376,337. The firm has a 50 day simple moving average of $27.28 and a 200 day simple moving average of $24.09. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -6.04 and a beta of 1.22. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03.

Wall Street Analyst Weigh In

VERA has been the subject of a number of analyst reports. Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. JPMorgan Chase & Co. dropped their target price on Vera Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Bank of America initiated coverage on Vera Therapeutics in a research note on Thursday, October 16th. They set a “buy” rating and a $48.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $61.40.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of VERA. Quantbot Technologies LP bought a new position in Vera Therapeutics in the second quarter worth approximately $51,000. Tower Research Capital LLC TRC raised its position in shares of Vera Therapeutics by 192.9% in 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. Massar Capital Management LP bought a new stake in Vera Therapeutics during the second quarter valued at about $377,000. Nebula Research & Development LLC purchased a new position in shares of Vera Therapeutics in the 2nd quarter worth approximately $463,000. Finally, Invesco Ltd. raised its stake in shares of Vera Therapeutics by 2.0% during the 2nd quarter. Invesco Ltd. now owns 27,847 shares of the company’s stock worth $656,000 after acquiring an additional 550 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Company Profile

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.