Vera Therapeutics (NASDAQ:VERA) Issues Earnings Results

Vera Therapeutics (NASDAQ:VERA) released its earnings results on Monday. The company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.58) by $0.06, FiscalAI reports.

Vera Therapeutics Stock Down 4.0%

Shares of VERA stock traded down $1.31 during mid-day trading on Monday, reaching $31.58. 1,036,134 shares of the company were exchanged, compared to its average volume of 1,432,085. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.64 and a current ratio of 13.64. The business’s 50 day simple moving average is $36.58 and its 200 day simple moving average is $39.02. The company has a market capitalization of $2.27 billion, a P/E ratio of -5.70 and a beta of 0.92. Vera Therapeutics has a fifty-two week low of $19.28 and a fifty-two week high of $56.05.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 46,250 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total value of $1,956,375.00. Following the completion of the sale, the chief executive officer owned 151,994 shares of the company’s stock, valued at approximately $6,429,346.20. The trade was a 23.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 83,250 shares of company stock worth $3,337,770. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Vera Therapeutics by 49.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,461,976 shares of the company’s stock valued at $276,595,000 after purchasing an additional 1,795,537 shares during the last quarter. Deerfield Management Company L.P. increased its position in Vera Therapeutics by 8.8% in the third quarter. Deerfield Management Company L.P. now owns 3,641,157 shares of the company’s stock worth $105,812,000 after buying an additional 293,040 shares during the period. Vestal Point Capital LP increased its position in Vera Therapeutics by 24.0% in the second quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock worth $73,036,000 after buying an additional 600,000 shares during the period. State Street Corp lifted its stake in Vera Therapeutics by 14.7% in the fourth quarter. State Street Corp now owns 2,676,600 shares of the company’s stock valued at $135,543,000 after buying an additional 343,017 shares during the last quarter. Finally, Integral Health Asset Management LLC boosted its holdings in shares of Vera Therapeutics by 5.9% during the fourth quarter. Integral Health Asset Management LLC now owns 1,800,000 shares of the company’s stock valued at $91,152,000 after acquiring an additional 100,000 shares during the period. 99.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and set a $60.00 price target on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Evercore set a $91.00 price target on Vera Therapeutics in a research report on Friday, May 15th. Wedbush increased their price objective on shares of Vera Therapeutics from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Guggenheim boosted their target price on shares of Vera Therapeutics from $56.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, TD Cowen raised their price target on shares of Vera Therapeutics from $73.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.58.

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.