Vera Therapeutics (NASDAQ:VERA) Shares Up 5.3% - Time to Buy?

Key Points

• Vera Therapeutics' shares increased by 5.3% during trading, reaching a high of $27.53, though the trading volume was down by 44% compared to the average.
• The company has received a mix of ratings from analysts, with seven analysts giving a "buy" rating and a consensus target price of $63.00.
• In its latest earnings report, Vera Therapeutics missed expectations, posting a loss of ($1.20) earnings per share, which was below the consensus estimate of ($0.82).

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shot up 5.3% during trading on Thursday . The stock traded as high as $27.53 and last traded at $27.53. 765,256 shares traded hands during trading, a decline of 44% from the average session volume of 1,377,378 shares. The stock had previously closed at $26.14.

Analyst Upgrades and Downgrades

VERA has been the subject of several research analyst reports. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vera Therapeutics in a research note on Thursday, September 18th. Wolfe Research reiterated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Finally, Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Vera Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Vera Therapeutics Stock Performance

The firm's 50-day moving average price is $22.58 and its two-hundred day moving average price is $23.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -7.79 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same quarter in the previous year, the business earned ($0.62) EPS. On average, analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Institutional Trading of Vera Therapeutics

A number of large investors have recently made changes to their positions in VERA. Quantbot Technologies LP purchased a new stake in shares of Vera Therapeutics during the second quarter worth approximately $51,000. Quarry LP boosted its holdings in shares of 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 period. AlphaQuest LLC boosted its holdings in shares of Vera Therapeutics by 404.7% in the first quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock valued at $96,000 after acquiring an additional 3,213 shares during the period. Virtus Investment Advisers LLC raised its stake in shares of Vera Therapeutics by 14.8% during the second 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 raised its stake in shares of Vera Therapeutics by 192.9% during the second 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. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

About Vera Therapeutics

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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