Vera Therapeutics' (VERA) "Peer Perform" Rating Reaffirmed 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 reiterated by research analysts at Wolfe Research in a research report issued on Monday,Benzinga reports.

VERA has been the topic of a number of other reports. Cantor Fitzgerald decreased their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. HC Wainwright reiterated a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Wedbush lowered their target price 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 equities 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 data from MarketBeat, Vera Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Vera Therapeutics Stock Performance

Shares of VERA opened at $20.95 on Monday. The company has a 50-day moving average of $22.90 and a two-hundred day moving average of $25.50. The stock has a market cap of $1.34 billion, a P/E ratio of -6.98 and a beta of 1.17. Vera Therapeutics has a 12-month low of $18.53 and a 12-month high of $51.61. The company has a current ratio of 27.68, a quick ratio of 27.68 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling at Vera Therapeutics

In related news, Director Patrick G. Enright bought 209,393 shares of Vera Therapeutics stock in a transaction that occurred on Monday, June 23rd. The stock was acquired at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the completion of the purchase, the director owned 3,569,522 shares in the company, valued at approximately $74,495,924.14. This represents a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VERA. Vanguard Group Inc. raised its holdings in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock worth $124,737,000 after buying an additional 369,387 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Vera Therapeutics by 71.6% during the 4th quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company's stock valued at $9,367,000 after purchasing an additional 92,390 shares during the last quarter. Norges Bank bought a new stake in Vera Therapeutics during the fourth quarter worth about $2,055,000. Alliancebernstein L.P. increased its holdings in shares of Vera Therapeutics by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after buying an additional 800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Vera Therapeutics by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 1,153,325 shares of the company's stock worth $48,787,000 after acquiring an additional 148,660 shares in the last quarter. 99.21% of the stock is owned by 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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