Wedbush Lowers Vera Therapeutics (NASDAQ:VERA) Price Target to $34.00

Key Points

• Wedbush cut Vera Therapeutics’ price target to $34 from $43 and maintained a “neutral” rating, implying roughly 10.55% upside from the prior close.
• Vera shares opened at $30.76, down 2.6%, while broader analyst sentiment remains bullish: the stock has an average “Moderate Buy” rating and a consensus price target of $83.83.
• The company reported a quarterly loss of $1.52 per share, beating expectations for a $1.60 loss. CEO Marshall Fordyce also sold 46,250 shares under a pre-arranged trading plan.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) had its price target cut by analysts at Wedbush from $43.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Wedbush's target price points to a potential upside of 10.55% from the company's previous close.

Several other equities research analysts have also recently weighed in on VERA. Needham & Company LLC set a $125.00 price objective on Vera Therapeutics in a report on Wednesday, July 8th. Bank of America lifted their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. HC Wainwright lifted their price target on Vera Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $60.00 price target on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $90.00 price objective on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.83.

Vera Therapeutics Stock Down 2.6%

Shares of NASDAQ VERA opened at $30.76 on Tuesday. The business has a 50-day simple moving average of $36.53 and a two-hundred day simple moving average of $38.93. The company has a quick ratio of 13.64, a current ratio of 13.64 and a debt-to-equity ratio of 0.15. Vera Therapeutics has a 52 week low of $19.93 and a 52 week high of $56.05. The company has a market cap of $2.21 billion, a P/E ratio of -5.65 and a beta of 0.92.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.60) by $0.08. During the same period in the prior year, the business posted ($1.20) EPS. Research analysts anticipate that Vera Therapeutics will post -6.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total value of $1,956,375.00. Following the completion of the sale, the chief executive officer directly owned 151,994 shares in the company, valued at $6,429,346.20. The trade was a 23.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Vera Therapeutics in the fourth quarter worth $46,000. Quantbot Technologies LP purchased a new position in Vera Therapeutics in the second quarter worth about $51,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Vera Therapeutics during the 4th quarter valued at about $71,000. 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 valued at $99,000 after purchasing an additional 2,757 shares during the last quarter. Finally, Sandia Investment Management LP bought a new position in shares of Vera Therapeutics in the 4th quarter worth approximately $127,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

About Vera Therapeutics

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body's own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.

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