Vera Therapeutics (NASDAQ:VERA) Trading 7.7% Higher – Time to Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price shot up 7.7% on Monday . The company traded as high as $37.91 and last traded at $37.7750. Approximately 248,933 shares changed hands during trading, a decline of 78% from the average daily volume of 1,132,225 shares. The stock had previously closed at $35.09.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Monday, April 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Vera Therapeutics in a report on Tuesday, June 2nd. HC Wainwright lifted their price target on Vera Therapeutics from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Wolfe Research raised Vera Therapeutics from a “peer perform” rating to an “outperform” rating and set a $88.00 price target for the company in a report on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.00.

Vera Therapeutics Stock Up 8.7%

The firm’s fifty day moving average is $36.43 and its 200-day moving average is $41.54. The company has a market capitalization of $2.74 billion, a P/E ratio of -6.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.64 and a current ratio of 13.64.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.33) by ($0.36). During the same quarter last year, the company earned ($0.81) EPS. As a group, equities research analysts predict that Vera Therapeutics, Inc. will post -6.23 EPS for the current year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 22,951 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $44.05, for a total value of $1,010,991.55. Following the completion of the transaction, the chief executive officer directly owned 235,244 shares in the company, valued at approximately $10,362,498.20. This represents a 8.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Vera Therapeutics by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,905 shares of the company’s stock worth $753,000 after purchasing an additional 2,210 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Vera Therapeutics by 22.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,013 shares of the company’s stock valued at $2,354,000 after buying an additional 17,907 shares during the last quarter. Jane Street Group LLC boosted its position in Vera Therapeutics by 297.1% during the 1st quarter. Jane Street Group LLC now owns 41,578 shares of the company’s stock worth $999,000 after buying an additional 62,678 shares during the period. JPMorgan Chase & Co. grew its holdings in Vera Therapeutics by 550.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 310,547 shares of the company’s stock worth $7,316,000 after acquiring an additional 262,805 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Vera Therapeutics by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 50,418 shares of the company’s stock valued at $1,188,000 after acquiring an additional 825 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

Vera Therapeutics Company Profile

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.