Vera Therapeutics (NASDAQ:VERA) Given New $70.00 Price Target at Bank of America

Vera Therapeutics (NASDAQ:VERA) had its price target lifted by Bank of America from $65.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 66.15% from the stock’s previous close.

Several other brokerages have also recently weighed in on VERA. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a report on Monday, April 20th. Wolfe Research upgraded Vera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research report on Wednesday, March 11th. Jefferies Financial Group reissued a “buy” rating and set a $60.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. William Blair restated an “outperform” rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.40.

Vera Therapeutics Price Performance

Shares of NASDAQ:VERA traded up $2.00 during midday trading on Tuesday, hitting $42.13. The company’s stock had a trading volume of 3,681,278 shares, compared to its average volume of 1,293,429. The business’s 50 day simple moving average is $36.19 and its 200 day simple moving average is $41.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.64 and a current ratio of 13.64. The company has a market cap of $3.02 billion, a P/E ratio of -7.66 and a beta of 0.92. Vera Therapeutics has a 12-month low of $19.07 and a 12-month high of $56.05.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($0.36). During the same quarter in the prior year, the firm earned ($0.81) EPS. On average, analysts forecast that Vera Therapeutics will post -6.23 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 22,951 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $44.05, for a total transaction of $1,010,991.55. Following the completion of the sale, the chief executive officer directly owned 235,244 shares of the company’s stock, valued at approximately $10,362,498.20. This trade represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 59,951 shares of company stock worth $2,392,387. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its stake in Vera Therapeutics by 27.9% during the 4th quarter. UBS Group AG now owns 207,289 shares of the company’s stock worth $10,497,000 after purchasing an additional 45,214 shares in the last quarter. Hudson Bay Capital Management LP raised its position in Vera Therapeutics by 47.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 440,591 shares of the company’s stock valued at $12,804,000 after purchasing an additional 141,615 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Vera Therapeutics by 11.9% in the 4th quarter. Vanguard Group Inc. now owns 3,570,401 shares of the company’s stock valued at $180,805,000 after buying an additional 379,748 shares during the period. Schroder Investment Management Group boosted its stake in shares of Vera Therapeutics by 82.4% in the 3rd quarter. Schroder Investment Management Group now owns 679,992 shares of the company’s stock valued at $19,652,000 after buying an additional 307,243 shares during the period. Finally, Braidwell LP purchased a new position in shares of Vera Therapeutics in the 3rd quarter valued at about $13,738,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.