Vera Therapeutics (NASDAQ:VERA) Sets New 52-Week High at $40.20

Vera Therapeutics, Inc. (NASDAQ:VERAGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $40.20 and last traded at $39.20, with a volume of 126910 shares changing hands. The stock had previously closed at $37.56.

Wall Street Analyst Weigh In

Several analysts have recently commented on VERA shares. Raymond James upgraded Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $29.00 to $37.00 in a research note on Friday, January 26th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Vera Therapeutics in a report on Wednesday, December 27th. JPMorgan Chase & Co. cut their target price on Vera Therapeutics from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, November 30th. Oppenheimer began coverage on shares of Vera Therapeutics in a research report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating on the stock. 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.29.

View Our Latest Stock Report on Vera Therapeutics

Vera Therapeutics Stock Up 15.0 %

The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.92 billion, a P/E ratio of -14.90 and a beta of 1.02. The stock’s 50-day simple moving average is $20.65 and its 200-day simple moving average is $16.78.

Vera Therapeutics (NASDAQ:VERAGet Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. As a group, research analysts predict that Vera Therapeutics, Inc. will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Commodore Capital Lp sold 1,050,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $18.00, for a total transaction of $18,900,000.00. Following the completion of the transaction, the insider now directly owns 4,400,000 shares of the company’s stock, valued at approximately $79,200,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vera Therapeutics news, Director Maha Katabi acquired 161,290 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average cost of $31.00 per share, with a total value of $4,999,990.00. Following the completion of the acquisition, the director now directly owns 3,628,446 shares in the company, valued at $112,481,826. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Commodore Capital Lp sold 1,050,000 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $18.00, for a total transaction of $18,900,000.00. Following the completion of the transaction, the insider now owns 4,400,000 shares of the company’s stock, valued at approximately $79,200,000. The disclosure for this sale can be found here. 22.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several institutional investors have recently made changes to their positions in VERA. JPMorgan Chase & Co. raised its stake in shares of Vera Therapeutics by 96.5% during the 1st quarter. JPMorgan Chase & Co. now owns 149,601 shares of the company’s stock valued at $3,514,000 after purchasing an additional 73,475 shares during the period. Bank of New York Mellon Corp increased its position in shares of Vera Therapeutics by 137.2% during the first quarter. Bank of New York Mellon Corp now owns 48,836 shares of the company’s stock valued at $1,146,000 after buying an additional 28,247 shares during the period. Citigroup Inc. lifted its holdings in shares of Vera Therapeutics by 310.0% in the first quarter. Citigroup Inc. now owns 10,895 shares of the company’s stock worth $256,000 after buying an additional 8,238 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Vera Therapeutics in the first quarter valued at approximately $209,000. Finally, Rhumbline Advisers purchased a new position in Vera Therapeutics during the first quarter valued at approximately $244,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Vera Therapeutics

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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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.

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