Leerink Partners assumed coverage on shares of Vera Therapeutics (NASDAQ:VERA – Free Report) in a research report released on Monday, MarketBeat.com reports. The firm issued a market perform rating and a $34.00 price objective on the stock.
Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. TD Cowen reaffirmed a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, September 15th. Bank of America upped their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Needham & Company LLC set a $125.00 target price on shares of Vera Therapeutics in a research note on Wednesday, July 8th. Finally, Wedbush reiterated a “neutral” rating and set a $34.00 target price on shares of Vera Therapeutics in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.86.
Check Out Our Latest Analysis on VERA
Vera Therapeutics Price Performance
Vera Therapeutics (NASDAQ:VERA – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.58) by $0.06. During the same quarter last year, the company earned ($1.20) EPS. Analysts anticipate that Vera Therapeutics will post -6.45 earnings per share for the current fiscal year.
Insider Buying and Selling at Vera Therapeutics
In other news, CEO Marshall Fordyce sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total value of $684,500.00. Following the completion of the transaction, the chief executive officer owned 235,244 shares in the company, valued at $8,704,028. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC bought a new position in Vera Therapeutics in the third quarter valued at approximately $631,000. Engineers Gate Manager LP increased its position in shares of Vera Therapeutics by 1,579.2% during the 2nd quarter. Engineers Gate Manager LP now owns 108,139 shares of the company’s stock worth $4,640,000 after purchasing an additional 101,699 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Vera Therapeutics by 569.1% during the 2nd quarter. Squarepoint Ops LLC now owns 104,937 shares of the company’s stock worth $4,503,000 after purchasing an additional 89,253 shares during the last quarter. Arizona State Retirement System increased its position in shares of Vera Therapeutics by 12.3% during the 2nd quarter. Arizona State Retirement System now owns 11,813 shares of the company’s stock worth $507,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Vera Therapeutics during the 2nd quarter worth approximately $97,000. 99.21% of the stock is owned by institutional investors and hedge funds.
About Vera Therapeutics
Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s lead product candidate is atacicept, an investigational fusion protein designed to inhibit two immune signaling molecules, B-cell activating factor (BAFF) and a proliferation-inducing ligand (APRIL), which contribute to the survival and activity of antibody-producing B cells.
Vera is primarily studying atacicept as a potential treatment for immunoglobulin A nephropathy (IgA nephropathy), a chronic kidney disorder caused by the buildup of IgA immune complexes.
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