Guggenheim Reiterates "Buy" Rating for Vera Therapeutics (NASDAQ:VERA)

Guggenheim reiterated their buy rating on shares of Vera Therapeutics (NASDAQ:VERA - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $56.00 price objective on the stock.

A number of other equities research analysts have also weighed in on VERA. HC Wainwright reiterated a buy rating and set a $25.00 target price on shares of Vera Therapeutics in a research note on Wednesday, December 27th. Cantor Fitzgerald started coverage on Vera Therapeutics in a research report on Monday, January 8th. They issued an overweight rating on the stock. Wedbush upped their price target on shares of Vera Therapeutics from $21.00 to $34.00 and gave the company a neutral rating in a research report on Thursday, March 21st. Raymond James raised shares of Vera Therapeutics from an outperform rating to a strong-buy rating and raised their price objective for the stock from $29.00 to $37.00 in a report on Friday, January 26th. Finally, Oppenheimer assumed coverage on shares of Vera Therapeutics in a report on Thursday, January 25th. They set an outperform rating and a $26.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $32.29.

Vera Therapeutics Stock Performance

Shares of VERA stock traded up $0.11 during trading hours on Friday, reaching $37.52. The company had a trading volume of 936,415 shares, compared to its average volume of 1,256,368. The company has a debt-to-equity ratio of 0.49, a quick ratio of 7.71 and a current ratio of 7.71. The business has a fifty day moving average price of $42.58 and a 200-day moving average price of $23.88. Vera Therapeutics has a one year low of $5.95 and a one year high of $50.78. The firm has a market cap of $1.97 billion, a PE ratio of -16.73 and a beta of 1.05.

Insider Buying and Selling

In other Vera Therapeutics news, Director Maha Katabi sold 340,000 shares of Vera Therapeutics stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $40.50, for a total transaction of $13,770,000.00. Following the transaction, the director now owns 2,793,987 shares of the company's stock, valued at $113,156,473.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vera Therapeutics news, Director Maha Katabi sold 340,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $40.50, for a total value of $13,770,000.00. Following the completion of the sale, the director now owns 2,793,987 shares in the company, valued at approximately $113,156,473.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Commodore Capital Lp sold 1,050,000 shares of the business's stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $18.00, for a total value of $18,900,000.00. Following the completion of the transaction, the insider now owns 4,400,000 shares in the company, valued at $79,200,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,471,009 shares of company stock valued at $36,250,598. 22.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Vera Therapeutics by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 1,633,608 shares of the company's stock valued at $25,125,000 after buying an additional 59,218 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Vera Therapeutics by 54.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 649,218 shares of the company's stock valued at $9,985,000 after acquiring an additional 229,414 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Vera Therapeutics by 75.5% in the 4th quarter. GSA Capital Partners LLP now owns 52,590 shares of the company's stock valued at $809,000 after acquiring an additional 22,620 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Vera Therapeutics in the 4th quarter worth $97,000. Finally, Barclays PLC grew its holdings in shares of Vera Therapeutics by 58.6% in the fourth quarter. Barclays PLC now owns 113,747 shares of the company's stock valued at $1,751,000 after purchasing an additional 42,044 shares in the last quarter. 99.21% of the stock is currently 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.