Vera Therapeutics (NASDAQ:VERA) Given New $75.00 Price Target at JPMorgan Chase & Co.

Vera Therapeutics (NASDAQ:VERA) had its target price increased by JPMorgan Chase & Co. from $72.00 to $75.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Scotiabank assumed coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Finally, Guggenheim upped their target price on shares of 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, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $54.33.

Vera Therapeutics Price Performance

Shares of VERA stock opened at $48.09 on Tuesday. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. Vera Therapeutics has a 12-month low of $10.79 and a 12-month high of $50.78. The firm has a fifty day moving average of $41.53 and a 200-day moving average of $39.17. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -21.76 and a beta of 1.03.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). On average, equities research analysts forecast that Vera Therapeutics will post -2.57 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marshall Fordyce sold 14,471 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total value of $575,366.96. Following the completion of the sale, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at approximately $12,829,239.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,398 shares of company stock worth $4,376,163. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after buying an additional 688 shares during the period. Arizona State Retirement System lifted its position in shares of Vera Therapeutics by 14.4% in the second quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after buying an additional 1,250 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock worth $425,000 after acquiring an additional 1,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Vera Therapeutics by 30.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock worth $272,000 after acquiring an additional 1,737 shares during the period. Institutional investors own 99.21% of the company’s stock.

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.