Vera Therapeutics (NASDAQ:VERA) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $70.00 price target on the stock.

Other equities analysts have also issued reports about the company. Scotiabank started coverage on Vera Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 target price for the company. Wedbush upped their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Guggenheim upped their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $59.22.

Vera Therapeutics Stock Performance

Shares of VERA opened at $48.31 on Thursday. The stock has a market capitalization of $3.06 billion, a PE ratio of -18.51 and a beta of 1.03. The business’s fifty day moving average price is $43.47 and its 200 day moving average price is $39.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics has a 12-month low of $12.28 and a 12-month high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities research analysts forecast that Vera Therapeutics will post -2.85 EPS for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. The trade was a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,927 shares of company stock worth $3,800,796. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VERA. Geode Capital Management LLC boosted its stake in shares of Vera Therapeutics by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock worth $44,415,000 after acquiring an additional 20,223 shares in the last quarter. Barclays PLC boosted its position in shares of Vera Therapeutics by 94.1% in the 3rd quarter. Barclays PLC now owns 85,395 shares of the company’s stock valued at $3,774,000 after purchasing an additional 41,394 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Vera Therapeutics by 283.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 30,911 shares of the company’s stock worth $1,366,000 after purchasing an additional 22,843 shares in the last quarter. Pier Capital LLC acquired a new stake in Vera Therapeutics during the 3rd quarter worth about $4,573,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Vera Therapeutics by 8.4% in the third quarter. Point72 DIFC Ltd now owns 43,789 shares of the company’s stock worth $1,935,000 after buying an additional 3,376 shares during the period. 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.