Vera Therapeutics, Inc. (NASDAQ:VERA) Stock Has Consensus Price Target of $80.15 According to Brokerages

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $80.15.

VERA has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a report on Friday, July 17th. Wedbush reissued a “neutral” rating and issued a $34.00 price objective on shares of Vera Therapeutics in a research note on Monday, August 17th. HC Wainwright decreased their price objective on shares of Vera Therapeutics from $125.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. TD Cowen restated a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, September 15th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Vera Therapeutics in a research note on Tuesday, September 15th.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the sale, the chief executive officer directly owned 235,244 shares of the company’s stock, valued at $8,704,028. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Large investors have recently made changes to their positions in the business. Engineers Gate Manager LP grew its position in shares of Vera Therapeutics by 1,579.2% during the second quarter. Engineers Gate Manager LP now owns 108,139 shares of the company’s stock worth $4,640,000 after purchasing an additional 101,699 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in Vera Therapeutics by 99.5% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 85,777 shares of the company’s stock valued at $3,681,000 after purchasing an additional 42,787 shares during the period. Odyssean LLC lifted its holdings in Vera Therapeutics by 192.6% in the 2nd quarter. Odyssean LLC now owns 60,005 shares of the company’s stock worth $2,575,000 after purchasing an additional 39,495 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Vera Therapeutics by 569.1% in the 2nd quarter. Squarepoint Ops LLC now owns 104,937 shares of the company’s stock worth $4,503,000 after purchasing an additional 89,253 shares in the last quarter. Finally, Readystate Asset Management LP bought a new position in Vera Therapeutics in the 2nd quarter worth approximately $12,663,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Performance

Shares of VERA opened at $29.88 on Thursday. The business has a 50-day simple moving average of $32.75 and a two-hundred day simple moving average of $36.04. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. Vera Therapeutics has a 52 week low of $23.05 and a 52 week high of $56.05. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -5.10 and a beta of 1.06.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.06. During the same period in the previous year, the firm earned ($1.20) EPS. On average, analysts expect that Vera Therapeutics will post -6.44 EPS for the current year.

About Vera Therapeutics

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s lead product candidate is atacicept, an investigational fusion protein designed to inhibit two immune signaling molecules, B-cell activating factor (BAFF) and a proliferation-inducing ligand (APRIL), which contribute to the survival and activity of antibody-producing B cells.

Vera is primarily studying atacicept as a potential treatment for immunoglobulin A nephropathy (IgA nephropathy), a chronic kidney disorder caused by the buildup of IgA immune complexes.