Vera Therapeutics (NASDAQ:VERA) Releases Earnings Results, Misses Estimates By $0.38 EPS

Key Points

• Vera Therapeutics reported earnings of ($1.20) per share, missing estimates by ($0.38), compared to ($0.62) EPS for the same quarter last year.
• The company's stock price rose by 3.6% to $21.20, with a market capitalization of $1.35 billion and a P/E ratio of -7.06.
• Analysts maintain an overall Moderate Buy rating for Vera Therapeutics, with target prices ranging from $26.00 to $85.00 among various research firms.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38), Zacks reports. During the same quarter last year, the business earned ($0.62) EPS.

Vera Therapeutics Trading Up 0.4%

VERA traded up $0.07 during trading on Friday, hitting $19.79. 1,047,828 shares of the company's stock were exchanged, compared to its average volume of 1,078,886. The company has a current ratio of 17.03, a quick ratio of 27.68 and a debt-to-equity ratio of 0.16. Vera Therapeutics has a 1 year low of $18.53 and a 1 year high of $51.61. The stock has a 50 day moving average price of $22.97 and a 200 day moving average price of $25.08. The firm has a market cap of $1.26 billion, a P/E ratio of -5.53 and a beta of 1.17.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Patrick G. Enright acquired 40,607 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was bought at an average cost of $22.35 per share, for a total transaction of $907,566.45. Following the completion of the purchase, the director directly owned 3,596,593 shares in the company, valued at $80,383,853.55. This represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Vera Therapeutics by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,905 shares of the company's stock valued at $753,000 after acquiring an additional 2,210 shares during the last quarter. Jane Street Group LLC boosted its stake in Vera Therapeutics by 297.1% during the 1st quarter. Jane Street Group LLC now owns 41,578 shares of the company's stock valued at $999,000 after acquiring an additional 62,678 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Vera Therapeutics by 22.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,013 shares of the company's stock valued at $2,354,000 after acquiring an additional 17,907 shares during the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Finally, Cantor Fitzgerald dropped their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Vera Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $63.00.

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.