Vera Therapeutics, Inc. (NASDAQ:VERA) Short Interest Update

Key Points

• Short interest in Vera Therapeutics increased by a staggering 5,059.7% in July, with a total of 8,240,000 shares sold short as of July 15th.
• The company reported a quarterly loss of ($0.81) earnings per share, missing the consensus estimate of ($0.75).
• Despite the short interest surge, analysts have a consensus rating of "Buy" with a price target of $65.00, indicating potential upside for investors.

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 8,240,000 shares, anincreaseof5,059.7% from the June 30th total of 159,700 shares. Based on an average daily volume of 1,710,000 shares, the short-interest ratio is presently 4.8 days. Currently,18.1% of the company's stock are sold short. Currently,18.1% of the company's stock are sold short. Based on an average daily volume of 1,710,000 shares, the short-interest ratio is presently 4.8 days.

Analysts Set New Price Targets

Several brokerages recently weighed in on VERA. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a report on Monday. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush decreased their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Cantor Fitzgerald reduced their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Vera Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $65.00.

Vera Therapeutics Price Performance

Shares of VERA traded up $0.94 during trading hours on Tuesday, reaching $21.39. 1,442,419 shares of the company's stock traded hands, compared to its average volume of 1,278,594. The stock has a market cap of $1.36 billion, a PE ratio of -7.15 and a beta of 1.17. The company has a current ratio of 27.68, a quick ratio of 27.68 and a debt-to-equity ratio of 0.10. The firm's 50 day simple moving average is $22.92 and its 200-day simple moving average is $25.41. Vera Therapeutics has a 12 month low of $18.53 and a 12 month high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same period in the prior year, the company posted ($0.62) earnings per share. Equities analysts expect that Vera Therapeutics will post -2.89 EPS for the current year.

Insider Activity

In other news, Director Patrick G. Enright bought 209,393 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were bought at an average cost of $20.87 per share, for a total transaction of $4,370,031.91. Following the acquisition, the director directly owned 3,569,522 shares in the company, valued at approximately $74,495,924.14. This trade represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Hedge funds have recently made changes to their positions in the business. Avoro Capital Advisors LLC lifted its holdings in shares of Vera Therapeutics by 30.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock valued at $237,247,000 after purchasing an additional 1,300,410 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vera Therapeutics by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company's stock valued at $114,212,000 after purchasing an additional 377,783 shares in the last quarter. FMR LLC lifted its holdings in shares of Vera Therapeutics by 9.6% during the fourth quarter. FMR LLC now owns 3,053,126 shares of the company's stock valued at $129,117,000 after purchasing an additional 267,842 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Vera Therapeutics by 14.3% in the fourth quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock valued at $124,737,000 after acquiring an additional 369,387 shares during the period. Finally, Vestal Point Capital LP lifted its holdings in Vera Therapeutics by 132.6% in the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock valued at $60,050,000 after acquiring an additional 1,425,000 shares during the period. 99.21% of the stock is owned by hedge funds and other 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.