Vera Therapeutics (NASDAQ:VERA) Posts 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) issued its earnings results on Tuesday. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38), Zacks reports. During the same quarter last year, the business posted ($0.62) EPS.

Vera Therapeutics Trading Up 3.6%

NASDAQ:VERA traded up $0.75 during trading hours on Tuesday, hitting $21.20. 1,826,288 shares of the stock were exchanged, compared to its average volume of 1,281,635. The company has a market capitalization of $1.35 billion, a P/E ratio of -7.06 and a beta of 1.17. The company has a quick ratio of 27.68, a current ratio of 27.68 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $22.92 and its two-hundred day moving average is $25.41. Vera Therapeutics has a twelve month low of $18.53 and a twelve month high of $51.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VERA. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price objective (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Wolfe Research reiterated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday. Cantor Fitzgerald reduced their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, Wedbush dropped their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vera Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $65.00.

Insider Activity at Vera Therapeutics

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

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of VERA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Vera Therapeutics by 7.7% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $2,354,000 after purchasing an additional 17,907 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Vera Therapeutics by 297.1% in the first quarter. Jane Street Group LLC now owns 41,578 shares of the company's stock valued at $999,000 after buying an additional 62,678 shares in the last quarter. 99.21% of the stock is owned by 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.

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