Vera Therapeutics (NASDAQ:VERA) Trading Up 6.5%

Vera Therapeutics, Inc. (NASDAQ:VERA) rose 6.5% during trading on Wednesday . The stock traded as high as $42.39 and last traded at $42.09. Approximately 148,465 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,259,533 shares. The stock had previously closed at $39.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VERA shares. Raymond James raised shares of Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $29.00 to $37.00 in a report on Friday, January 26th. Guggenheim restated a “buy” rating and set a $56.00 price target on shares of Vera Therapeutics in a report on Friday, April 5th. Oppenheimer assumed coverage on Vera Therapeutics in a report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 price objective for the company. Wedbush lifted their price objective on Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald initiated coverage on Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.29.

Vera Therapeutics Stock Up 2.8 %

The company has a current ratio of 7.71, a quick ratio of 7.71 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $27.59.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Wednesday, March 20th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.05). Sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.18 EPS for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, CFO Sean Grant sold 99,828 shares of Vera Therapeutics stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the completion of the transaction, the chief financial officer now owns 66,337 shares in the company, valued at $2,627,608.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Sean Grant sold 99,828 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the completion of the sale, the chief financial officer now owns 66,337 shares of the company’s stock, valued at $2,627,608.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph R. Young sold 5,714 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $40.00, for a total value of $228,560.00. Following the sale, the senior vice president now owns 53,171 shares in the company, valued at $2,126,840. The disclosure for this sale can be found here. Insiders have sold 526,551 shares of company stock worth $21,533,345 in the last 90 days. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group bought a new position in Vera Therapeutics during the fourth quarter valued at approximately $17,087,000. Kynam Capital Management LP boosted its stake in shares of Vera Therapeutics by 23.5% in the 4th quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after buying an additional 694,286 shares during the last quarter. Rafferty Asset Management LLC bought a new position in shares of Vera Therapeutics in the 3rd quarter worth approximately $1,870,000. Vanguard Group Inc. lifted its stake in shares of Vera Therapeutics by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,574,390 shares of the company’s stock worth $21,585,000 after purchasing an additional 134,125 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Vera Therapeutics in the third quarter worth approximately $1,159,000. Hedge funds and other institutional investors 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.