JPMorgan Chase & Co. Issues Positive Forecast for Vera Therapeutics (NASDAQ:VERA) Stock Price

Vera Therapeutics (NASDAQ:VERA) had its price target boosted by analysts at JPMorgan Chase & Co. from $72.00 to $75.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 63.65% from the company’s current price.

VERA has been the subject of several other research reports. Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Scotiabank initiated coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $53.89.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded up $0.66 on Tuesday, reaching $45.83. The stock had a trading volume of 126,547 shares, compared to its average volume of 906,827. The stock has a market cap of $2.51 billion, a P/E ratio of -20.74 and a beta of 1.03. The business’s 50-day moving average price is $40.65 and its two-hundred day moving average price is $38.90. Vera Therapeutics has a fifty-two week low of $9.88 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, sell-side analysts forecast that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at $6,737,395.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,398 shares of company stock worth $4,376,163 over the last quarter. 21.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after buying an additional 350 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Vera Therapeutics in the 2nd quarter valued at $135,000. Ameritas Investment Partners Inc. raised its stake in shares of Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after buying an additional 688 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vera Therapeutics during the 2nd quarter valued at $163,000. Finally, Cetera Advisors LLC purchased a new position in shares of Vera Therapeutics during the 1st quarter valued at $235,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.