Vera Therapeutics, Inc. (NASDAQ:VERA) Receives $63.00 Average Price Target from Analysts

Vera Therapeutics, Inc. (NASDAQ:VERA) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $63.00.

Several brokerages recently weighed in on VERA. JPMorgan Chase & Co. cut their target price on Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Wolfe Research reaffirmed a “peer perform” rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vera Therapeutics in a research report on Thursday, September 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its position in Vera Therapeutics by 232.0% in the second quarter. Squarepoint Ops LLC now owns 57,519 shares of the company’s stock valued at $1,355,000 after purchasing an additional 40,196 shares during the period. Hudson Bay Capital Management LP purchased a new position in Vera Therapeutics in the second quarter valued at about $7,044,000. Tower Research Capital LLC TRC raised its position in Vera Therapeutics by 192.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company’s stock valued at $99,000 after purchasing an additional 2,757 shares during the period. Exome Asset Management LLC purchased a new position in Vera Therapeutics in the second quarter valued at about $1,807,000. Finally, Vestal Point Capital LP raised its position in Vera Therapeutics by 24.0% in the second quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock valued at $73,036,000 after purchasing an additional 600,000 shares during the period. 99.21% of the stock is owned by hedge funds and other institutional investors.

Vera Therapeutics Trading Up 1.4%

Shares of Vera Therapeutics stock opened at $29.19 on Friday. Vera Therapeutics has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The firm has a market cap of $1.86 billion, a PE ratio of -8.15 and a beta of 1.23. The business’s fifty day moving average is $23.27 and its two-hundred day moving average is $23.08. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.38). During the same period in the prior year, the firm earned ($0.62) earnings per share. Analysts anticipate that Vera Therapeutics will post -2.89 earnings per share for the current year.

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.