Vera Therapeutics (NASDAQ:VERA) Trading Up 4.9% – Here’s What Happened

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as $38.01 and last traded at $37.73. 165,844 shares were traded during mid-day trading, a decline of 77% from the average session volume of 714,705 shares. The stock had previously closed at $35.98.

Analyst Ratings Changes

VERA has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Scotiabank assumed coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $67.50.

Vera Therapeutics Stock Up 5.4 %

The firm has a market capitalization of $2.40 billion, a PE ratio of -14.53 and a beta of 1.15. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $42.18 and its 200 day simple moving average is $40.91.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the transaction, the chief executive officer now directly owns 85,942 shares of the company’s stock, valued at $3,701,521.94. The trade was a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. First Turn Management LLC boosted its stake in shares of Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after acquiring an additional 113,550 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Vera Therapeutics by 41.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after purchasing an additional 124,197 shares during the period. Barclays PLC lifted its holdings in shares of Vera Therapeutics by 94.1% in the third quarter. Barclays PLC now owns 85,395 shares of the company’s stock worth $3,774,000 after buying an additional 41,394 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Vera Therapeutics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after purchasing an additional 10,717 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Vera Therapeutics by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after buying an additional 20,223 shares during the last quarter. 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.