Vera Therapeutics (NASDAQ:VERA) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Vera Therapeutics (NASDAQ:VERA) received a "Sell (D-)" rating from Weiss Ratings, with several other analysts maintaining varying ratings, contributing to an average rating of "Moderate Buy" for the stock.
• The company reported a loss of ($1.20) earnings per share for the last quarter, underperforming analysts' expectations of ($0.82), alongside a significant annual price range between $18.53 and $51.61.
• Aside from Weiss Ratings, multiple institutions are adjusting their holdings in Vera Therapeutics, with 99.21% of the stock owned by hedge funds and other institutional investors, indicating strong institutional interest.

Vera Therapeutics (NASDAQ:VERA - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other research analysts also recently issued reports on VERA. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Cantor Fitzgerald restated an "overweight" rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. Finally, Bank of America assumed coverage on Vera Therapeutics in a report on Thursday, October 16th. They issued a "buy" rating and a $48.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Vera Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $61.50.

Vera Therapeutics Stock Performance

Shares of NASDAQ VERA traded up $1.02 during midday trading on Friday, reaching $29.22. 1,203,972 shares of the company were exchanged, compared to its average volume of 1,182,381. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The stock has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $23.63.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.62) earnings per share. As a group, research analysts expect that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

Institutional Trading of Vera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after purchasing an additional 500 shares during the period. Virtus Investment Advisers LLC increased its position in shares of Vera Therapeutics by 14.8% during the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company's stock worth $98,000 after acquiring an additional 539 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Vera Therapeutics by 2.0% in the second quarter. Invesco Ltd. now owns 27,847 shares of the company's stock worth $656,000 after acquiring an additional 550 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Vera Therapeutics by 13.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,254 shares of the company's stock worth $124,000 after acquiring an additional 615 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vera Therapeutics by 2.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,721 shares of the company's stock worth $744,000 after purchasing an additional 816 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.