Vera Therapeutics (NASDAQ:VERA) Price Target Cut to $52.00 by Analysts at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its price objective cut by JPMorgan Chase & Co. from $53.00 to $52.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on VERA. Bank of America initiated coverage on shares of Vera Therapeutics in a research report on Thursday, October 16th. They issued a “buy” rating and a $48.00 price objective on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Vera Therapeutics in a report on Monday, August 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vera Therapeutics in a report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $61.40.

Vera Therapeutics Stock Down 4.1%

Vera Therapeutics stock traded down $1.03 during midday trading on Friday, hitting $24.19. 1,298,830 shares of the stock were exchanged, compared to its average volume of 1,343,028. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03. The firm has a market cap of $1.54 billion, a P/E ratio of -6.06 and a beta of 1.22. The company has a 50 day moving average price of $27.33 and a two-hundred day moving average price of $24.12.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.06). During the same quarter in the prior year, the business posted ($0.85) earnings per share. On average, sell-side analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Institutional Trading of Vera Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Trexquant Investment LP boosted its stake in Vera Therapeutics by 187.1% in the 1st quarter. Trexquant Investment LP now owns 62,777 shares of the company’s stock worth $1,508,000 after purchasing an additional 40,913 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Vera Therapeutics in the 1st quarter worth about $326,000. Bank of New York Mellon Corp raised its stake in shares of Vera Therapeutics by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company’s stock worth $3,451,000 after purchasing an additional 1,717 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Vera Therapeutics by 505.1% in the 1st quarter. Russell Investments Group Ltd. now owns 152,918 shares of the company’s stock valued at $3,673,000 after buying an additional 127,646 shares in the last quarter. Finally, EFG Asset Management North America Corp. increased its holdings in Vera Therapeutics by 49.4% in the first quarter. EFG Asset Management North America Corp. now owns 109,281 shares of the company’s stock worth $2,623,000 after buying an additional 36,121 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.