Vera Therapeutics (NASDAQ:VERA) Shares Gap Up Following Analyst Upgrade

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares gapped up before the market opened on Monday after Scotiabank raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $18.95, but opened at $31.74. Scotiabank currently has a sector outperform rating on the stock. Vera Therapeutics shares last traded at $30.15, with a volume of 3,543,128 shares.

A number of other equities research analysts also recently issued reports on VERA. Cantor Fitzgerald reduced 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. JPMorgan Chase & Co. lowered their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Guggenheim lifted their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. HC Wainwright lifted their target price on shares of Vera Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Wedbush lowered their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Vera Therapeutics has an average rating of "Buy" and an average target price of $65.00.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds have recently modified their holdings of the company. Quarry LP increased its position in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $60,000 after purchasing an additional 500 shares during the period. Huntington National Bank acquired a new position in shares of Vera Therapeutics during the 4th quarter valued at $26,000. Summit Investment Advisors Inc. boosted its stake in shares of Vera Therapeutics by 16.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Vera Therapeutics during the 4th quarter worth $34,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Vera Therapeutics by 2.0% during the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after acquiring an additional 800 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Trading Down 2.6%

The firm has a market capitalization of $1.97 billion, a P/E ratio of -11.84 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The firm has a 50 day moving average price of $22.06 and a two-hundred day moving average price of $31.86.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data 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 last year, the company earned ($0.56) earnings per share. On average, equities research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal 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.