JPMorgan Chase & Co. Cuts Vera Therapeutics (NASDAQ:VERA) Price Target to $52.00

Vera Therapeutics (NASDAQ:VERA) had its price objective trimmed by JPMorgan Chase & Co. from $53.00 to $52.00 in a report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Vera Therapeutics in a research note on Monday, August 4th. Bank of America started coverage on Vera Therapeutics in a research note on Thursday, October 16th. They set a “buy” rating and a $48.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.40.

Vera Therapeutics Trading Down 4.1%

Vera Therapeutics stock opened at $24.19 on Friday. The firm has a 50-day moving average price of $27.33 and a two-hundred day moving average price of $24.15. Vera Therapeutics has a 52-week low of $18.53 and a 52-week high of $51.61. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -6.06 and a beta of 1.22. The company has a quick ratio of 12.21, a current ratio of 12.21 and a debt-to-equity ratio of 0.19.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.06). During the same quarter last year, the company posted ($0.85) EPS. Sell-side analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current year.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP boosted its holdings in Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after purchasing an additional 500 shares during the last quarter. Virtus Investment Advisers LLC boosted its position in Vera Therapeutics by 14.8% during the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock valued at $98,000 after purchasing an additional 539 shares during the last quarter. Invesco Ltd. grew its position in shares of Vera Therapeutics by 2.0% in the second quarter. Invesco Ltd. now owns 27,847 shares of the company’s stock valued at $656,000 after purchasing an additional 550 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Vera Therapeutics by 13.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,254 shares of the company’s stock worth $124,000 after purchasing an additional 615 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Vera Therapeutics by 2.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,721 shares of the company’s stock worth $744,000 after purchasing an additional 816 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

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.