Vera Therapeutics (NASDAQ:VERA) Shares Up 4.4% - Still a Buy?

Key Points

• Vera Therapeutics' stock has seen a **4.4% increase**, trading at $31.84, despite a significant decline in trading volume by 69% compared to its average session.
• Analysts maintain a **consensus rating of "Moderate Buy"** with an average target price of **$61.50**, although recent earnings results showed a wider loss than expected.
• Institutional investors hold a substantial **99.21% ownership** of Vera Therapeutics, indicating strong confidence in the company's potential within the biotechnology sector.

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s share price traded up 4.4% during mid-day trading on Friday . The company traded as high as $31.50 and last traded at $31.84. 429,491 shares were traded during trading, a decline of 69% from the average session volume of 1,369,562 shares. The stock had previously closed at $30.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. JPMorgan Chase & Co. reduced 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. Bank of America started coverage on Vera Therapeutics in a research report on Thursday. They issued a "buy" rating and a $48.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Vera Therapeutics in a research report on Thursday, September 18th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Vera Therapeutics in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

Vera Therapeutics Stock Up 1.9%

The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03. The firm has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $23.35. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -8.77 and a beta of 1.23.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its earnings results 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 business posted ($0.62) earnings per share. On average, sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in Vera Therapeutics in the 2nd quarter valued at approximately $51,000. Quarry LP raised its position in Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock valued at $60,000 after buying an additional 500 shares during the last quarter. AlphaQuest LLC raised its position in Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock valued at $96,000 after buying an additional 3,213 shares during the last quarter. Virtus Investment Advisers LLC increased its position in shares of Vera Therapeutics by 14.8% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company's stock worth $98,000 after purchasing an additional 539 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Vera Therapeutics by 192.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company's stock worth $99,000 after purchasing an additional 2,757 shares during the last quarter. Institutional investors own 99.21% of the company's stock.

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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