Vera Therapeutics (NASDAQ:VERA) Hits New 52-Week High on Analyst Upgrade

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) reached a new 52-week high during mid-day trading on Friday after Bank of America raised their price target on the stock from $48.00 to $66.00. Bank of America currently has a buy rating on the stock. Vera Therapeutics traded as high as $51.72 and last traded at $51.2720, with a volume of 751409 shares. The stock had previously closed at $47.69.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a research note on Wednesday, November 26th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Vera Therapeutics in a report on Friday, November 28th. Evercore ISI lifted their price objective on shares of Vera Therapeutics from $75.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. TD Cowen increased their target price on shares of Vera Therapeutics from $60.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Vera Therapeutics from $99.00 to $96.00 and set an “overweight” rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Vera Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $74.83.

Insider Activity

In other news, Director Patrick G. Enright bought 5,882 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was bought at an average cost of $42.50 per share, for a total transaction of $249,985.00. Following the completion of the acquisition, the director directly owned 5,882 shares in the company, valued at $249,985. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joseph R. Young sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $29.06, for a total transaction of $435,900.00. Following the completion of the transaction, the senior vice president directly owned 47,839 shares of the company’s stock, valued at $1,390,201.34. This represents a 23.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.30% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently bought and sold shares of the business. Bollard Group LLC bought a new position in shares of Vera Therapeutics during the 2nd quarter valued at $1,509,000. Trexquant Investment LP raised its position in shares of Vera Therapeutics by 187.1% during the first quarter. Trexquant Investment LP now owns 62,777 shares of the company’s stock worth $1,508,000 after purchasing an additional 40,913 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Vera Therapeutics in the 1st quarter valued at approximately $326,000. Hudson Bay Capital Management LP acquired a new stake in shares of Vera Therapeutics in the second quarter valued at approximately $7,044,000. Finally, American Century Companies Inc. raised its holdings in Vera Therapeutics by 89.3% during the second quarter. American Century Companies Inc. now owns 714,428 shares of the company’s stock worth $16,832,000 after acquiring an additional 336,978 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Trading Up 7.4%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.21 and a current ratio of 12.21. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -12.84 and a beta of 1.21. The firm has a fifty day moving average price of $33.89 and a 200 day moving average price of $27.30.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06). During the same period in the previous year, the business earned ($0.85) earnings per share. As a group, equities analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

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.