Vera Therapeutics (NASDAQ:VERA) Stock Price Up 4.4% – Should You Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA) shares rose 4.4% during trading on Friday . The company traded as high as $31.50 and last traded at $31.84. Approximately 429,491 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,369,562 shares. The stock had previously closed at $30.51.

Analyst Upgrades and Downgrades

VERA has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Bank of America began coverage on shares of Vera Therapeutics in a report on Thursday. They set a “buy” rating and a $48.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Therapeutics in a report on Wednesday, October 8th. Wolfe Research reiterated a “peer perform” rating on shares of Vera Therapeutics in a report on Monday, August 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Vera Therapeutics in a report on Thursday, September 18th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Vera Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Vera Therapeutics Stock Up 2.4%

The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $25.48 and its 200-day moving average is $23.41. The company has a market cap of $1.99 billion, a PE ratio of -8.72 and a beta of 1.23.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period in the prior year, the firm posted ($0.62) EPS. On average, analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Vera Therapeutics by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company’s stock worth $114,212,000 after acquiring an additional 377,783 shares during the last quarter. Vestal Point Capital LP raised its position in shares of Vera Therapeutics by 24.0% during the 2nd quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock valued at $73,036,000 after purchasing an additional 600,000 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Vera Therapeutics by 18.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,675,367 shares of the company’s stock valued at $40,243,000 after purchasing an additional 260,188 shares during the period. Geode Capital Management LLC raised its position in shares of Vera Therapeutics by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,294,958 shares of the company’s stock valued at $30,513,000 after purchasing an additional 92,149 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Vera Therapeutics by 10.2% during the 1st quarter. Deutsche Bank AG now owns 892,859 shares of the company’s stock valued at $21,446,000 after purchasing an additional 82,483 shares during the period. Hedge funds and other 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.