Vera Therapeutics (NASDAQ:VERA) Shares Up 7.8% - What's Next?

Key Points

• Vera Therapeutics shares rose 7.8% to about $34.25 in mid-day trading, although volume was 78% below the stock’s average daily level.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $80.15, well above the current share price; targets range from $34 to $90.
• The company exceeded quarterly EPS expectations, reporting a loss of $1.52 per share versus the $1.58 consensus estimate. However, insiders sold 83,250 shares worth $3.31 million over the past three months.

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s stock price rose 7.8% during mid-day trading on Thursday . The stock traded as high as $34.00 and last traded at $34.2490. Approximately 343,562 shares traded hands during trading, a decline of 78% from the average daily volume of 1,575,944 shares. The stock had previously closed at $31.77.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VERA shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Vera Therapeutics in a research report on Friday, July 17th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Wedbush reissued a "neutral" rating and set a $34.00 price objective on shares of Vera Therapeutics in a report on Monday, August 17th. Jefferies Financial Group restated a "buy" rating and set a $60.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Finally, Bank of America upped their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Vera Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $80.15.

Vera Therapeutics Stock Up 7.7%

The business's fifty day moving average price is $34.59 and its 200 day moving average price is $36.96. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -5.84 and a beta of 0.96. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.18.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, topping analysts' consensus estimates of ($1.58) by $0.06. During the same quarter last year, the firm posted ($1.20) EPS. On average, equities analysts expect that Vera Therapeutics, Inc. will post -6.44 EPS for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $35.12, for a total transaction of $649,720.00. Following the completion of the sale, the chief executive officer owned 235,244 shares in the company, valued at approximately $8,261,769.28. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,250 shares of company stock worth $3,307,800 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new position in shares of Vera Therapeutics in the 2nd quarter valued at approximately $97,000. Strs Ohio acquired a new stake in shares of Vera Therapeutics during the first quarter worth $249,000. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Vera Therapeutics during the second quarter worth $405,000. PSP Research LLC purchased a new position in Vera Therapeutics in the 4th quarter valued at $506,000. Finally, Arizona State Retirement System grew its position in Vera Therapeutics by 12.3% in the 2nd quarter. Arizona State Retirement System now owns 11,813 shares of the company's stock valued at $507,000 after buying an additional 1,295 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

About Vera Therapeutics

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company's research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera's leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.

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