Vera Therapeutics (NASDAQ:VERA) Trading 5.7% Higher - Here's What Happened

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) was up 5.7% during trading on Thursday . The stock traded as high as $19.90 and last traded at $19.95. Approximately 406,469 shares traded hands during trading, a decline of 48% from the average daily volume of 785,644 shares. The stock had previously closed at $18.87.

Analyst Ratings Changes

Several equities research analysts have recently commented on VERA shares. Guggenheim boosted their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. HC Wainwright initiated coverage on Vera Therapeutics in a research note on Monday, May 5th. They set a "buy" rating and a $75.00 price objective on the stock. Wolfe Research began coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald dropped their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $63.33.

Vera Therapeutics Stock Performance

The stock has a market capitalization of $1.21 billion, a PE ratio of -7.29 and a beta of 1.28. The business has a 50 day moving average price of $21.94 and a 200 day moving average price of $32.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Huntington National Bank bought a new stake in Vera Therapeutics during the 4th quarter valued at approximately $26,000. AlphaQuest LLC purchased a new position in Vera Therapeutics during the 4th quarter valued at $34,000. GF Fund Management CO. LTD. purchased a new stake in shares of Vera Therapeutics in the 4th quarter worth $56,000. KBC Group NV lifted its holdings in shares of Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after buying an additional 1,387 shares during the period. Finally, Quarry LP lifted its stake in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after purchasing an additional 500 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.