Cantor Fitzgerald Reaffirms Overweight Rating for Vera Therapeutics (NASDAQ:VERA)

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

Other equities research analysts have also recently issued research reports about the company. Evercore ISI raised Vera Therapeutics to a strong-buy rating in a research note on Monday, September 16th. 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 research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Vera Therapeutics presently has an average rating of Buy and an average target price of $51.75.

Vera Therapeutics Trading Down 3.8 %

Shares of NASDAQ:VERA opened at $44.92 on Monday. The firm has a fifty day moving average of $38.01 and a two-hundred day moving average of $39.06. 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 has a 12-month low of $9.24 and a 12-month high of $50.78. The firm has a market capitalization of $2.46 billion, a P/E ratio of -21.91 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data 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, equities analysts expect that Vera Therapeutics will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 14,471 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the transaction, the chief executive officer now owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marshall Fordyce sold 14,471 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The disclosure for this sale can be found here. Insiders sold 31,273 shares of company stock valued at $1,210,750 over the last 90 days. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VERA. William Marsh Rice University acquired a new stake in shares of Vera Therapeutics in the second quarter worth $593,000. Cambridge Trust Co. grew its position in Vera Therapeutics by 386.6% in the 1st quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock worth $2,074,000 after purchasing an additional 38,220 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Vera Therapeutics during the 1st quarter worth about $9,727,000. Jennison Associates LLC acquired a new position in shares of Vera Therapeutics during the first quarter valued at about $3,231,000. Finally, Vanguard Group Inc. lifted its stake in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after buying an additional 515,106 shares during the period. 99.21% of the stock is owned by 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.