Vera Therapeutics (NASDAQ:VERA) Receives New Coverage from Analysts at Scotiabank

Scotiabank began coverage on shares of Vera Therapeutics (NASDAQ:VERA) in a report published on Wednesday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $60.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $52.67.

Vera Therapeutics Trading Down 0.5 %

Shares of Vera Therapeutics stock opened at $39.99 on Wednesday. The business has a fifty day simple moving average of $39.68 and a two-hundred day simple moving average of $38.89. Vera Therapeutics has a 1 year low of $9.24 and a 1 year high of $50.78. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -18.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Research analysts forecast that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $11,776,849.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $38.24, for a total value of $597,500.00. Following the completion of the transaction, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $11,776,849.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,023 shares of company stock valued at $2,873,156 over the last quarter. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position 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 acquiring an additional 688 shares during the last quarter. Arizona State Retirement System grew its position in 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 acquiring an additional 1,250 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Vera Therapeutics by 13.5% in the second quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after acquiring an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after acquiring an additional 1,737 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Vera Therapeutics by 19.0% in the third quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors and hedge funds 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.