Vera Therapeutics’ (VERA) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Vera Therapeutics (NASDAQ:VERA) in a report issued on Monday, Benzinga reports. The brokerage currently has a $107.00 price target on the stock.

Separately, JPMorgan Chase & Co. raised their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the company an overweight rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vera Therapeutics presently has a consensus rating of Buy and an average target price of $51.75.

Vera Therapeutics Price Performance

Shares of Vera Therapeutics stock opened at $40.33 on Monday. The stock has a 50 day moving average of $37.26 and a 200 day moving average of $39.09. Vera Therapeutics has a 12 month low of $9.24 and a 12 month high of $50.78. The firm has a market cap of $2.21 billion, a PE ratio of -19.67 and a beta of 0.99. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). On average, research analysts expect that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VERA. William Marsh Rice University purchased a new position in shares of Vera Therapeutics in the 2nd quarter valued at $593,000. Cambridge Trust Co. increased its holdings in shares of Vera Therapeutics by 386.6% in the 1st quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock valued at $2,074,000 after acquiring an additional 38,220 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Vera Therapeutics in the 1st quarter valued at $9,727,000. Jennison Associates LLC purchased a new position in shares of Vera Therapeutics in the 1st quarter valued at $3,231,000. Finally, Vanguard Group Inc. increased its holdings in shares of Vera Therapeutics by 31.5% in the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after acquiring an additional 515,106 shares during the period. 99.21% of the stock is currently 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.