Vera Therapeutics (NASDAQ:VERA) Shares Up 4.3%

Vera Therapeutics, Inc. (NASDAQ:VERA) shares traded up 4.3% during mid-day trading on Monday . The company traded as high as $39.21 and last traded at $39.12. 45,054 shares changed hands during trading, a decline of 95% from the average session volume of 913,778 shares. The stock had previously closed at $37.51.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VERA shares. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. 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. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Trading Up 6.8 %

The stock has a 50-day moving average of $37.00 and a 200 day moving average of $39.20. The stock has a market cap of $2.19 billion, a PE ratio of -19.53 and a beta of 0.99. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). As a group, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.59 earnings per share for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VERA. Crestline Management LP lifted its position in shares of Vera Therapeutics by 32.4% during the 4th quarter. Crestline Management LP now owns 60,069 shares of the company’s stock valued at $924,000 after buying an additional 14,689 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Vera Therapeutics by 25.2% during the 4th quarter. Rafferty Asset Management LLC now owns 170,758 shares of the company’s stock valued at $2,626,000 after buying an additional 34,381 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at approximately $17,087,000. Pale Fire Capital SE purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at approximately $252,000. Finally, Kynam Capital Management LP lifted its position in shares of Vera Therapeutics by 23.5% during the 4th quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after buying an additional 694,286 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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.