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

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 8,950,000 shares, an increase of 26.6% from the May 15th total of 7,070,000 shares. Approximately 18.6% of the company's shares are sold short. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is presently 5.7 days.

Wall Street Analyst Weigh In

VERA has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush reduced their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald decreased their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $65.00.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its position in Vera Therapeutics by 19.9% during the 4th quarter. California State Teachers Retirement System now owns 40,640 shares of the company's stock valued at $1,719,000 after purchasing an additional 6,749 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Vera Therapeutics in the fourth quarter worth approximately $2,948,000. Ameriprise Financial Inc. grew its holdings in shares of Vera Therapeutics by 31.7% during the fourth quarter. Ameriprise Financial Inc. now owns 30,021 shares of the company's stock valued at $1,270,000 after buying an additional 7,227 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Vera Therapeutics by 515.0% during the fourth quarter. Victory Capital Management Inc. now owns 235,267 shares of the company's stock valued at $9,949,000 after buying an additional 197,014 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Vera Therapeutics by 44.2% during the fourth quarter. Teacher Retirement System of Texas now owns 12,860 shares of the company's stock valued at $544,000 after acquiring an additional 3,942 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Stock Up 0.0%

VERA traded up $0.01 during midday trading on Wednesday, reaching $21.16. The company's stock had a trading volume of 101,409 shares, compared to its average volume of 951,627. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The stock's 50-day moving average is $22.56 and its 200-day moving average is $30.23. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -7.05 and a beta of 1.13. The company has a current ratio of 27.68, a quick ratio of 27.68 and a debt-to-equity ratio of 0.10.

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 prior year, the firm posted ($0.56) earnings per share. As a group, research analysts expect that Vera Therapeutics will post -2.89 EPS for the current year.

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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