Vera Therapeutics (NASDAQ:VERA) Shares Up 6.5%

Vera Therapeutics, Inc. (NASDAQ:VERA) shares were up 6.5% during mid-day trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VERA shares. Oppenheimer started coverage on shares of Vera Therapeutics in a research note on Thursday, January 25th. They issued an “outperform” rating and a $26.00 target price on the stock. Wedbush raised their target price on Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Cantor Fitzgerald started coverage on Vera Therapeutics in a research note on Monday, January 8th. They issued an “overweight” rating for the company. Guggenheim reissued a “buy” rating and issued a $56.00 target price on shares of Vera Therapeutics in a report on Friday, April 5th. Finally, Raymond James upgraded Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $29.00 to $37.00 in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $32.29.

Vera Therapeutics Stock Up 2.8 %

The business’s 50 day moving average is $42.88 and its 200 day moving average is $27.59. The company has a quick ratio of 7.71, a current ratio of 7.71 and a debt-to-equity ratio of 0.49.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Wednesday, March 20th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). On average, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In other news, CFO Sean Grant sold 99,828 shares of the 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 sale, the chief financial officer now owns 66,337 shares in the company, valued at approximately $2,627,608.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Maha Katabi sold 340,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $40.50, for a total transaction of $13,770,000.00. Following the transaction, the director now owns 2,793,987 shares in the company, valued at $113,156,473.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sean Grant sold 99,828 shares of Vera Therapeutics stock in a transaction that occurred 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 sale, the chief financial officer now owns 66,337 shares of the company’s stock, valued at $2,627,608.57. The disclosure for this sale can be found here. Insiders have sold a total of 526,551 shares of company stock valued at $21,533,345 in the last 90 days. Insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of Vera Therapeutics by 26.0% in the third quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock valued at $57,000 after purchasing an additional 864 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Vera Therapeutics during the 4th quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Vera Therapeutics in the 3rd quarter valued at $79,000. SG Americas Securities LLC acquired a new stake in shares of Vera Therapeutics in the fourth quarter worth $119,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Vera Therapeutics during the first quarter worth $248,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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.