Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Consensus Recommendation of “Buy” from Brokerages

Vera Therapeutics, Inc. (NASDAQ:VERA) has been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $65.44.

Several research firms recently issued reports on VERA. Guggenheim upped their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wolfe Research initiated coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 target price for the company. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target for the company.

Vera Therapeutics Trading Down 3.5 %

Shares of Vera Therapeutics stock opened at $28.58 on Friday. Vera Therapeutics has a 12-month low of $25.99 and a 12-month high of $51.61. The firm’s 50 day simple moving average is $37.20 and its two-hundred day simple moving average is $40.59. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.95 and a beta of 1.11.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $43.07, for a total transaction of $753,725.00. Following the sale, the chief executive officer now directly owns 85,942 shares of the company’s stock, valued at $3,701,521.94. This represents a 16.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 52,500 shares of company stock valued at $2,305,625 in the last 90 days. 21.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VERA. Huntington National Bank acquired a new stake in Vera Therapeutics in the fourth quarter valued at approximately $26,000. AlphaQuest LLC purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at approximately $34,000. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics in the 4th quarter valued at $56,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares in the last quarter. Finally, KBC Group NV raised its position in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after acquiring an additional 1,387 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.