Vera Therapeutics (NASDAQ:VERA) PT Raised to $34.00

Vera Therapeutics (NASDAQ:VERAGet Free Report) had its price objective raised by research analysts at Wedbush from $21.00 to $34.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price would suggest a potential downside of 17.07% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald started coverage on Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating for the company. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Vera Therapeutics in a research report on Wednesday, December 27th. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 30th. Oppenheimer started coverage on Vera Therapeutics in a research report on Thursday, January 25th. They set an “outperform” rating and a $26.00 price target on the stock. Finally, Raymond James raised Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $29.00 to $37.00 in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $28.14.

Check Out Our Latest Stock Report on VERA

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $41.00 on Thursday. The business’s 50-day moving average price is $37.81 and its 200-day moving average price is $22.25. Vera Therapeutics has a 12 month low of $5.95 and a 12 month high of $50.78. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -17.90 and a beta of 1.10. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.20.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in shares of Vera Therapeutics by 0.9% in the fourth quarter. California State Teachers Retirement System now owns 27,271 shares of the company’s stock worth $419,000 after purchasing an additional 248 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in shares of Vera Therapeutics by 42.2% in the second quarter. Metropolitan Life Insurance Co NY now owns 1,888 shares of the company’s stock worth $30,000 after acquiring an additional 560 shares during the period. Amalgamated Bank boosted its stake in shares of Vera Therapeutics by 26.0% in the third quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock worth $57,000 after acquiring an additional 864 shares during the period. American International Group Inc. boosted its stake in shares of Vera Therapeutics by 29.2% in the first quarter. American International Group Inc. now owns 6,794 shares of the company’s stock worth $160,000 after acquiring an additional 1,535 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of Vera Therapeutics by 94.8% in the second quarter. Royal Bank of Canada now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Vera Therapeutics Company Profile

(Get Free Report)

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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