Wedbush Increases Vera Therapeutics (NASDAQ:VERA) Price Target to $38.00

Vera Therapeutics (NASDAQ:VERA) had its price objective upped by Wedbush from $30.00 to $38.00 in a research note released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

VERA has been the subject of a number of other reports. Scotiabank began coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Guggenheim increased their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $54.33.

Vera Therapeutics Price Performance

VERA stock traded down $0.95 during midday trading on Friday, hitting $48.09. The company’s stock had a trading volume of 614,475 shares, compared to its average volume of 914,612. Vera Therapeutics has a 12 month low of $10.79 and a 12 month high of $50.78. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.76 and a beta of 1.03. The company has a 50 day moving average of $41.53 and a two-hundred day moving average of $39.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results 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). On average, analysts expect that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at $11,548,950. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,398 shares of company stock worth $4,376,163. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in Vera Therapeutics in the third quarter worth $475,000. Jennison Associates LLC grew its position in shares of Vera Therapeutics by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 447,098 shares of the company’s stock worth $19,762,000 after buying an additional 5,936 shares in the last quarter. First Turn Management LLC grew its position in shares of Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after buying an additional 113,550 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Vera Therapeutics by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 38,253 shares of the company’s stock worth $1,691,000 after buying an additional 4,546 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its position in shares of Vera Therapeutics by 63.5% during the 3rd quarter. Chartwell Investment Partners LLC now owns 19,172 shares of the company’s stock worth $847,000 after buying an additional 7,447 shares in the last quarter. 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.