Vera Therapeutics (NASDAQ:VERA) PT Raised to $72.00 at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its target price hoisted by JPMorgan Chase & Co. from $62.00 to $72.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Raymond James upped their price target on Vera Therapeutics from $57.00 to $68.00 and gave the company a strong-buy rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vera Therapeutics has a consensus rating of Buy and an average target price of $51.75.

Vera Therapeutics Stock Performance

VERA opened at $37.20 on Tuesday. The stock’s 50 day simple moving average is $36.80 and its 200-day simple moving average is $39.62. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.03 billion, a PE ratio of -18.15 and a beta of 0.99. Vera Therapeutics has a 1 year low of $9.24 and a 1 year high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Sell-side analysts forecast that Vera Therapeutics will post -2.59 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total transaction of $575,366.96. Following the sale, the chief executive officer now owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 21.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund raised its position in Vera Therapeutics by 55.5% in the 4th quarter. New York State Common Retirement Fund now owns 17,491 shares of the company’s stock valued at $269,000 after buying an additional 6,244 shares during the last quarter. Crestline Management LP raised its position in Vera Therapeutics by 32.4% in the 4th quarter. Crestline Management LP now owns 60,069 shares of the company’s stock valued at $924,000 after buying an additional 14,689 shares during the last quarter. Rafferty Asset Management LLC raised its position in Vera Therapeutics by 25.2% in the 4th quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after buying an additional 34,381 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Vera Therapeutics in the 4th quarter valued at approximately $17,087,000. Finally, Pale Fire Capital SE acquired a new stake in Vera Therapeutics in the 4th quarter valued at approximately $252,000. Institutional investors and hedge funds 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.