Vera Therapeutics (NASDAQ:VERA) Price Target Increased to $56.00 by Analysts at Guggenheim

Vera Therapeutics (NASDAQ:VERA) had its price target hoisted by Guggenheim from $27.00 to $56.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on VERA. Wedbush lifted their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the company a neutral rating in a report on Thursday, March 21st. HC Wainwright reissued a buy rating and set a $25.00 target price on shares of Vera Therapeutics in a research note on Wednesday, December 27th. JPMorgan Chase & Co. cut their target price on shares of Vera Therapeutics from $25.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, November 30th. Cantor Fitzgerald initiated coverage on shares of Vera Therapeutics in a research note on Monday, January 8th. They set an overweight rating for the company. Finally, Raymond James raised shares of Vera Therapeutics from an outperform rating to a strong-buy rating and boosted their target price for the stock from $29.00 to $37.00 in a research note on Friday, January 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $32.29.

Vera Therapeutics Stock Down 1.6 %

VERA opened at $43.12 on Wednesday. Vera Therapeutics has a fifty-two week low of $5.95 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.97 and a current ratio of 6.97. The company has a fifty day moving average of $40.89 and a two-hundred day moving average of $23.24. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -18.83 and a beta of 1.10.

Insider Activity at Vera Therapeutics

In related news, Director Maha Katabi sold 81,009 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 3,547,437 shares of the company’s stock, valued at approximately $156,796,715.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Maha Katabi sold 81,009 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 3,547,437 shares of the company’s stock, valued at approximately $156,796,715.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Commodore Capital Lp sold 1,050,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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. In the last quarter, insiders sold 1,471,009 shares of company stock valued at $36,250,598. Corporate insiders own 22.60% of the company’s stock.

Institutional Trading of Vera Therapeutics

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in Vera Therapeutics by 96.5% in 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 last quarter. Bank of New York Mellon Corp boosted its holdings in Vera Therapeutics by 137.2% in the 1st quarter. Bank of New York Mellon Corp now owns 48,836 shares of the company’s stock valued at $1,146,000 after purchasing an additional 28,247 shares during the last quarter. Citigroup Inc. boosted its holdings in Vera Therapeutics by 310.0% in the 1st quarter. Citigroup Inc. now owns 10,895 shares of the company’s stock valued at $256,000 after purchasing an additional 8,238 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Vera Therapeutics in the 1st quarter valued at about $209,000. Finally, Rhumbline Advisers acquired a new position in Vera Therapeutics in the 1st quarter valued at about $244,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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