Vera Therapeutics (NASDAQ:VERA) Stock Rating Reaffirmed by Cantor Fitzgerald

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $107.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 167.23% from the company’s current price.

Separately, JPMorgan Chase & Co. increased their price target on Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Trading Up 6.7 %

Shares of NASDAQ:VERA traded up $2.53 during midday trading on Monday, reaching $40.04. The company had a trading volume of 228,413 shares, compared to its average volume of 914,808. Vera Therapeutics has a 1-year low of $9.24 and a 1-year high of $50.78. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -19.37 and a beta of 0.99. 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 simple moving average of $37.00 and a two-hundred day simple moving average of $39.20.

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

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado acquired a new position in shares of Vera Therapeutics during the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics during the 2nd quarter worth about $163,000. Ameritas Investment Partners Inc. raised its holdings 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 acquiring an additional 688 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Vera Therapeutics during the 1st quarter worth approximately $235,000. Finally, Quarry LP acquired a new stake in shares of Vera Therapeutics during the 2nd quarter worth approximately $235,000. 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.