Vera Therapeutics (NASDAQ:VERA) Stock Price Up 11.8% – Should You Buy?

by · The Cerbat Gem

Vera Therapeutics, Inc. (NASDAQ:VERA – Get Free Report)’s stock price shot up 11.8% during trading on Wednesday . The stock traded as high as $32.20 and last traded at $32.9080. 869,902 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,385,438 shares. The stock had previously closed at $29.43.

Analyst Ratings Changes

A number of brokerages have issued reports on VERA. JPMorgan Chase & Co. decreased their price target on Vera Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vera Therapeutics in a research report on Wednesday. HC Wainwright boosted their target price on Vera Therapeutics from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Wolfe Research reiterated a “peer perform” rating on shares of Vera Therapeutics in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Get Our Latest Stock Report on VERA

Vera Therapeutics Stock Performance

The company has a quick ratio of 12.21, a current ratio of 12.21 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $28.58 and a 200-day moving average price of $24.62. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -8.26 and a beta of 1.22.

Vera Therapeutics (NASDAQ:VERA – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.06). During the same period in the previous year, the business earned ($0.85) earnings per share. On average, analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, SVP Joseph R. Young sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $29.06, for a total transaction of $435,900.00. Following the transaction, the senior vice president directly owned 47,839 shares in the company, valued at $1,390,201.34. The trade was a 23.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of VERA. Armistice Capital LLC grew its stake in shares of Vera Therapeutics by 294.1% during the 3rd quarter. Armistice Capital LLC now owns 536,000 shares of the company’s stock worth $15,576,000 after purchasing an additional 400,000 shares during the period. Verition Fund Management LLC purchased a new stake in Vera Therapeutics during the third quarter worth about $1,188,000. Qube Research & Technologies Ltd grew its position in Vera Therapeutics by 47.9% during the third quarter. Qube Research & Technologies Ltd now owns 461,410 shares of the company’s stock worth $13,409,000 after buying an additional 149,468 shares during the period. Prelude Capital Management LLC increased its holdings in Vera Therapeutics by 81.8% in the third quarter. Prelude Capital Management LLC now owns 46,551 shares of the company’s stock valued at $1,353,000 after buying an additional 20,951 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Vera Therapeutics by 173.5% during the 3rd quarter. Millennium Management LLC now owns 598,454 shares of the company’s stock valued at $17,391,000 after acquiring an additional 379,623 shares during the period. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

(Get Free Report)

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.

Featured Articles