Vera Therapeutics (NASDAQ:VERA) Sets New 52-Week High – Should You Buy?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) reached a new 52-week high during trading on Wednesday . The company traded as high as $51.55 and last traded at $51.55, with a volume of 64339 shares. The stock had previously closed at $48.54.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VERA shares. Wedbush lifted their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Guggenheim upped their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $57.88.

Vera Therapeutics Price Performance

The stock’s 50-day moving average price is $42.39 and its 200 day moving average price is $39.43. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -18.77 and a beta of 1.03. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Equities research analysts expect that Vera Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the transaction, the director now owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marshall Fordyce sold 23,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $14,182,110.60. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,398 shares of company stock worth $4,376,163 over the last three months. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in Vera Therapeutics by 109.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock worth $416,000 after acquiring an additional 4,914 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Vera Therapeutics during the 3rd quarter worth approximately $1,910,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Vera Therapeutics by 11.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock valued at $2,722,000 after acquiring an additional 6,494 shares during the period. Algert Global LLC increased its holdings in shares of Vera Therapeutics by 34.3% in the 3rd quarter. Algert Global LLC now owns 23,164 shares of the company’s stock valued at $1,024,000 after acquiring an additional 5,910 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Vera Therapeutics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after acquiring an additional 10,717 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.