Vera Therapeutics (NASDAQ:VERA) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $58.00 price target on the stock.

Several other equities analysts have also commented on VERA. JPMorgan Chase & Co. upped their price target on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Scotiabank started coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price objective for the company. Finally, Guggenheim upped their price target on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $67.50.

Vera Therapeutics Trading Up 3.3 %

Shares of VERA stock opened at $35.98 on Tuesday. Vera Therapeutics has a twelve month low of $29.33 and a twelve month high of $51.61. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -13.79 and a beta of 1.15. The company’s 50-day moving average price is $42.18 and its 200-day moving average price is $40.91. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, equities analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares in the company, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 52,500 shares of company stock worth $2,305,625. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of institutional investors have recently bought and sold shares of VERA. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares in the last quarter. KBC Group NV lifted its position in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after buying an additional 1,387 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Vera Therapeutics by 19.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after buying an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Vera Therapeutics by 27.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock valued at $568,000 after buying an additional 2,882 shares during the last quarter. Finally, Point72 DIFC Ltd raised its stake in Vera Therapeutics by 8.4% during the 3rd quarter. Point72 DIFC Ltd now owns 43,789 shares of the company’s stock worth $1,935,000 after acquiring an additional 3,376 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.