Vera Therapeutics (NASDAQ:VERA) Trading 5.3% Higher

Vera Therapeutics, Inc. (NASDAQ:VERA) shares were up 5.3% on Friday . The company traded as high as $39.39 and last traded at $39.05. Approximately 218,098 shares traded hands during trading, a decline of 81% from the average daily volume of 1,172,545 shares. The stock had previously closed at $37.08.

Wall Street Analyst Weigh In

VERA has been the subject of several research reports. Oppenheimer assumed coverage on Vera Therapeutics in a report on Thursday, January 25th. They set an “outperform” rating and a $26.00 price target for the company. Guggenheim reissued a “buy” rating and issued a $56.00 target price on shares of Vera Therapeutics in a research report on Friday, April 5th. Raymond James raised their price target on shares of Vera Therapeutics from $57.00 to $68.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Finally, Wedbush upped their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.71.

Vera Therapeutics Price Performance

The stock’s 50 day moving average price is $41.58 and its two-hundred day moving average price is $30.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 28.63 and a quick ratio of 28.63. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -18.09 and a beta of 1.11.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, May 9th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). On average, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.32 EPS for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, SVP Joseph R. Young sold 5,714 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was 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 of the company’s stock, valued at approximately $2,126,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Joseph R. Young sold 5,714 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $40.00, for a total value of $228,560.00. Following the completion of the sale, the senior vice president now directly owns 53,171 shares of the company’s stock, valued at $2,126,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maha Katabi sold 81,009 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $44.20, for a total transaction of $3,580,597.80. Following the transaction, the director now owns 3,547,437 shares of the company’s stock, valued at $156,796,715.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 526,551 shares of company stock valued at $21,533,345. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VERA. Avoro Capital Advisors LLC acquired a new position in Vera Therapeutics in the 1st quarter valued at approximately $227,027,000. Kynam Capital Management LP lifted its position in Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after purchasing an additional 694,286 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Vera Therapeutics during the first quarter worth $103,189,000. Vanguard Group Inc. increased its holdings in Vera Therapeutics by 31.5% in the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after buying an additional 515,106 shares during the period. Finally, Schroder Investment Management Group acquired a new position in Vera Therapeutics in the fourth quarter worth about $17,087,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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.