Short Interest in Vera Therapeutics, Inc. (NASDAQ:VERA) Rises By 5,059.7%

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) was the target of a large increase in short interest during the month of 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 trading volume of 1,710,000 shares, the days-to-cover ratio is presently 4.8 days. Currently,18.1% of the company's shares are sold short. Currently,18.1% of the company's shares are sold short. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is presently 4.8 days.

Vera Therapeutics Stock Up 0.6%

Shares of VERA traded up $0.12 on Friday, reaching $20.91. The stock had a trading volume of 714,711 shares, compared to its average volume of 1,276,843. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68. The company has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $25.70. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the previous year, the firm posted ($0.56) earnings per share. Sell-side analysts predict that Vera Therapeutics will post -2.89 EPS for the current year.

Analysts Set New Price Targets

VERA has been the topic of several recent research reports. Cantor Fitzgerald reduced their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. HC Wainwright reiterated a "buy" rating and issued a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Finally, Wedbush dropped 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. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $65.00.

Insider Transactions at Vera Therapeutics

In related news, Director Patrick G. Enright purchased 209,393 shares of Vera Therapeutics stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average cost of $20.87 per share, for a total transaction of $4,370,031.91. Following the transaction, the director directly owned 3,569,522 shares in the company, valued at $74,495,924.14. The trade was a 6.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.30% of the stock is currently owned by insiders.

Institutional Trading of Vera Therapeutics

Large investors have recently modified their holdings of the company. Huntington National Bank bought a new stake in shares of Vera Therapeutics in the fourth quarter worth $26,000. GF Fund Management CO. LTD. bought a new stake in shares of Vera Therapeutics in the fourth quarter worth $56,000. Quarry LP grew its holdings in shares of Vera Therapeutics by 25.0% in the first quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares during the period. AlphaQuest LLC grew its holdings in shares of Vera Therapeutics by 404.7% in the first quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock worth $96,000 after acquiring an additional 3,213 shares during the period. Finally, Fifth Third Bancorp bought a new stake in shares of Vera Therapeutics in the second quarter worth $102,000. Institutional investors own 99.21% of the company's stock.

About Vera Therapeutics

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.

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