Wedbush Cuts Vera Therapeutics (NASDAQ:VERA) Price Target to $34.00

Vera Therapeutics (NASDAQ:VERA) had its price objective cut by Wedbush from $43.00 to $34.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently commented on VERA. Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. William Blair restated an “outperform” rating on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a report on Friday, July 17th. Bank of America raised their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $90.00 price target on shares of Vera Therapeutics in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.15.

Vera Therapeutics Stock Performance

VERA opened at $28.89 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -4.93 and a beta of 0.92. The business’s 50-day moving average price is $36.40 and its two-hundred day moving average price is $38.56. Vera Therapeutics has a 1 year low of $21.04 and a 1 year high of $56.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.64 and a quick ratio of 13.64.

Vera Therapeutics (NASDAQ:VERA) last announced its earnings results on Monday, August 10th. The company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.58) by $0.06. During the same quarter last year, the firm posted ($1.20) EPS. Equities analysts expect that Vera Therapeutics will post -6.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Marshall Fordyce sold 46,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total value of $1,956,375.00. Following the completion of the transaction, the chief executive officer directly owned 151,994 shares in the company, valued at approximately $6,429,346.20. The trade was a 23.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Vera Therapeutics by 49.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,461,976 shares of the company’s stock valued at $276,595,000 after buying an additional 1,795,537 shares in the last quarter. Deerfield Management Company L.P. raised its stake in Vera Therapeutics by 8.8% during the third quarter. Deerfield Management Company L.P. now owns 3,641,157 shares of the company’s stock worth $105,812,000 after acquiring an additional 293,040 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vera Therapeutics by 11.9% in the fourth quarter. Vanguard Group Inc. now owns 3,570,401 shares of the company’s stock worth $180,805,000 after acquiring an additional 379,748 shares during the last quarter. Vestal Point Capital LP lifted its holdings in shares of Vera Therapeutics by 24.0% in the second quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock worth $73,036,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Eversept Partners LP boosted its stake in shares of Vera Therapeutics by 9.4% in the 4th quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock valued at $155,581,000 after purchasing an additional 264,468 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.