Vera Therapeutics, Inc. (NASDAQ:VERA – Get Free Report) shot up 7.2% during mid-day trading on Wednesday . The company traded as high as $42.55 and last traded at $40.64. 692,793 shares traded hands during trading, a decline of 44% from the average session volume of 1,231,895 shares. The stock had previously closed at $37.91.
Analyst Ratings Changes
A number of brokerages have recently issued reports on VERA. Wedbush lifted their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Cantor Fitzgerald started coverage on shares of Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating on the stock. Oppenheimer started coverage on shares of Vera Therapeutics in a report on Thursday, January 25th. They set an “outperform” rating and a $26.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Vera Therapeutics in a report on Wednesday, December 27th. Finally, Raymond James upgraded shares of Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $29.00 to $37.00 in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Vera Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $32.29.
Vera Therapeutics Stock Up 9.8 %
The company’s 50 day simple moving average is $43.00 and its 200-day simple moving average is $24.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 7.71 and a current ratio of 7.71. The firm has a market capitalization of $2.27 billion, a PE ratio of -18.17 and a beta of 1.05.
Insider Activity at Vera Therapeutics
In other Vera Therapeutics news, Director Maha Katabi sold 81,009 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $44.20, for a total value of $3,580,597.80. Following the sale, the director now owns 3,547,437 shares of the company’s stock, valued at approximately $156,796,715.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vera Therapeutics news, CFO Sean Grant sold 99,828 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $39.61, for a total value of $3,954,187.08. Following the sale, the chief financial officer now owns 66,337 shares of the company’s stock, valued at approximately $2,627,608.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maha Katabi sold 81,009 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $44.20, for a total transaction of $3,580,597.80. Following the completion of the sale, the director now directly owns 3,547,437 shares in the company, valued at approximately $156,796,715.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 520,837 shares of company stock valued at $21,304,785. Insiders own 22.60% of the company’s stock.
Institutional Investors Weigh In On Vera Therapeutics
A number of large investors have recently modified their holdings of VERA. Tower Research Capital LLC TRC lifted its position in Vera Therapeutics by 810.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,834 shares of the company’s stock valued at $38,000 after acquiring an additional 4,303 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Vera Therapeutics by 163.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,792 shares of the company’s stock worth $45,000 after buying an additional 1,731 shares during the last quarter. UBS Group AG purchased a new position in shares of Vera Therapeutics during the first quarter valued at approximately $47,000. Royal Bank of Canada raised its holdings in shares of Vera Therapeutics by 94.8% during the second quarter. Royal Bank of Canada now owns 3,339 shares of the company’s stock valued at $54,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Amalgamated Bank grew its position in Vera Therapeutics by 26.0% during the third quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock valued at $57,000 after buying an additional 864 shares during the period. 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.