Vera Therapeutics' (VERA) Peer Perform Rating Reiterated at Wolfe Research

Key Points

• Vera Therapeutics' stock rating has been reaffirmed as "peer perform" by Wolfe Research, with a consensus rating of "Moderate Buy" and a target price of $65.00.
• The company reported a quarterly loss of ($0.81) EPS, missing estimates and slightly widening from the previous year’s ($0.56) EPS.
• Recently, Director Patrick G. Enright purchased over 209,000 shares of the company's stock, increasing his ownership stake by 6.23%.

Vera Therapeutics (NASDAQ:VERA - Get Free Report)'s stock had its "peer perform" rating reaffirmed by analysts at Wolfe Research in a research note issued on Monday, MarketBeat Ratings reports.

Several other equities analysts have also recently issued reports on the company. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Cantor Fitzgerald cut their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Wedbush reduced 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Vera Therapeutics Stock Up 0.4%

VERA stock traded up $0.07 during midday trading on Monday, reaching $19.79. 1,047,710 shares of the company were exchanged, compared to its average volume of 1,288,452. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -5.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 27.68 and a current ratio of 17.03. Vera Therapeutics has a 1-year low of $18.53 and a 1-year high of $51.61. The stock's 50-day simple moving average is $22.95 and its 200 day simple moving average is $25.24.

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

Insider Transactions at Vera Therapeutics

In related news, Director Patrick G. Enright purchased 209,393 shares of the company's stock in a transaction on Monday, June 23rd. The stock was bought at an average price of $20.87 per share, with a total value of $4,370,031.91. Following the completion of the transaction, the director owned 3,569,522 shares of the company's stock, valued at approximately $74,495,924.14. This represents a 6.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.30% of the company's stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new position in Vera Therapeutics in the fourth quarter valued at $26,000. GF Fund Management CO. LTD. acquired a new position in shares of Vera Therapeutics during the fourth quarter worth about $56,000. Quarry LP boosted its holdings in Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares during the period. AlphaQuest LLC grew its position in 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 in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Vera Therapeutics in the second quarter valued at $102,000. 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.