Vera Therapeutics, Inc. (NASDAQ:VERA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Vera Therapeutics, Inc. (NASDAQ:VERA) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $63.00.

VERA has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday. Wedbush lowered their price objective on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Guggenheim reiterated a “buy” rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Scotiabank reissued an “outperform” rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Vera Therapeutics in a research note on Monday, August 4th.

Vera Therapeutics Stock Up 0.4%

VERA opened at $19.79 on Friday. The firm’s 50 day simple moving average is $22.97 and its two-hundred day simple moving average is $25.14. The company has a market capitalization of $1.26 billion, a PE ratio of -5.53 and a beta of 1.17. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61. The company has a current ratio of 17.03, a quick ratio of 27.68 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period in the previous year, the firm posted ($0.62) earnings per share. As a group, equities analysts forecast that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Patrick G. Enright purchased 40,607 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were bought at an average cost of $22.35 per share, with a total value of $907,566.45. Following the acquisition, the director owned 3,596,593 shares in the company, valued at approximately $80,383,853.55. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.30% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors have recently added to or reduced their stakes in VERA. Quarry LP grew its position in Vera Therapeutics by 25.0% in the first quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after acquiring an additional 500 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after purchasing an additional 639 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Vera Therapeutics by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company’s stock valued at $1,706,000 after purchasing an additional 800 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Vera Therapeutics by 3.1% in the 2nd quarter. Intech Investment Management LLC now owns 29,539 shares of the company’s stock worth $696,000 after purchasing an additional 893 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Vera Therapeutics by 5.8% in the 1st quarter. Wellington Management Group LLP now owns 19,061 shares of the company’s stock worth $458,000 after purchasing an additional 1,043 shares during the period. 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.