Vera Therapeutics (NASDAQ:VERA) Sees Strong Trading Volume Following Analyst Upgrade

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) saw unusually-strong trading volume on Tuesday after Scotiabank raised their price target on the stock from $55.00 to $65.00. Scotiabank currently has a sector outperform rating on the stock. Approximately 1,561,972 shares changed hands during mid-day trading, an increase of 84% from the previous session's volume of 848,636 shares.The stock last traded at $32.07 and had previously closed at $31.74.

Several other equities analysts also recently commented on the company. Guggenheim upped their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wedbush dropped their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald dropped their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wolfe Research started coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 target price on the stock. Finally, HC Wainwright increased their target price on Vera Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $65.00.

Institutional Investors Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank purchased a new stake in shares of Vera Therapeutics in the fourth quarter worth $26,000. AlphaQuest LLC purchased a new stake in shares of Vera Therapeutics in the fourth quarter worth $34,000. GF Fund Management CO. LTD. bought a new position in Vera Therapeutics in the fourth quarter valued at $56,000. Quarry LP increased its stake in Vera Therapeutics by 25.0% in the first quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $60,000 after acquiring an additional 500 shares during the last quarter. Finally, KBC Group NV increased its stake in Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after acquiring an additional 1,387 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company's stock.

Vera Therapeutics Trading Up 3.5%

The firm has a market cap of $2.04 billion, a P/E ratio of -12.26 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock has a 50 day moving average of $22.26 and a 200 day moving average of $31.86.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same quarter last year, the company earned ($0.56) earnings per share. As a group, equities research analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

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.