Vera Therapeutics (NASDAQ:VERA) Receives “Overweight” Rating from Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They currently have a $107.00 price objective on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 142.08% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Vera Therapeutics has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $44.20 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The company has a fifty day moving average of $38.61 and a two-hundred day moving average of $39.04. The stock has a market capitalization of $2.42 billion, a PE ratio of -21.56 and a beta of 0.99. Vera Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, research analysts forecast that Vera Therapeutics will post -2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the sale, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The disclosure for this sale can be found here. Insiders have sold 54,398 shares of company stock valued at $2,275,656 over the last ninety days. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado acquired a new position in shares of Vera Therapeutics in the second quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vera Therapeutics in the 2nd quarter valued at $163,000. Ameritas Investment Partners Inc. increased its stake in Vera Therapeutics by 20.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after buying an additional 688 shares during the period. Cetera Advisors LLC acquired a new position in Vera Therapeutics in the 1st quarter valued at $235,000. Finally, Quarry LP acquired a new position in Vera Therapeutics in the 2nd quarter valued at $235,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.