Vera Therapeutics (NASDAQ:VERA) Price Target Raised to $56.00 at Guggenheim

Vera Therapeutics (NASDAQ:VERA) had its target price increased by Guggenheim from $27.00 to $56.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

VERA has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of Vera Therapeutics from $25.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, November 30th. Raymond James raised Vera Therapeutics from an outperform rating to a strong-buy rating and raised their price target for the company from $29.00 to $37.00 in a report on Friday, January 26th. HC Wainwright reissued a buy rating and issued a $25.00 price objective on shares of Vera Therapeutics in a research report on Wednesday, December 27th. Cantor Fitzgerald began coverage on shares of Vera Therapeutics in a report on Monday, January 8th. They set an overweight rating for the company. Finally, Oppenheimer started coverage on shares of Vera Therapeutics in a report on Thursday, January 25th. They issued an outperform rating and a $26.00 price target on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Vera Therapeutics has an average rating of Buy and a consensus price target of $32.29.

Vera Therapeutics Trading Up 5.4 %

NASDAQ VERA opened at $43.83 on Wednesday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -19.14 and a beta of 1.10. Vera Therapeutics has a 52 week low of $5.95 and a 52 week high of $50.78. The stock’s 50 day moving average price is $39.76 and its two-hundred day moving average price is $22.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.97 and a current ratio of 6.97.

Insider Buying and Selling at Vera Therapeutics

In other news, major shareholder Commodore Capital Lp sold 1,050,000 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $18.00, for a total value of $18,900,000.00. Following the completion of the sale, the insider now directly owns 4,400,000 shares in the company, valued at $79,200,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Maha Katabi sold 340,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $40.50, for a total transaction of $13,770,000.00. Following the completion of the sale, the director now owns 2,793,987 shares of the company’s stock, valued at $113,156,473.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Commodore Capital Lp sold 1,050,000 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $18.00, for a total transaction of $18,900,000.00. Following the sale, the insider now owns 4,400,000 shares in the company, valued at $79,200,000. The disclosure for this sale can be found here. Insiders sold 1,471,009 shares of company stock valued at $36,250,598 in the last quarter. Company insiders own 22.60% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG bought a new position in Vera Therapeutics in the first quarter valued at approximately $47,000. Ameritas Investment Partners Inc. increased its stake in shares of Vera Therapeutics by 163.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,792 shares of the company’s stock valued at $45,000 after purchasing an additional 1,731 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Vera Therapeutics by 94.8% during the 2nd quarter. Royal Bank of Canada now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 1,625 shares in the last quarter. Amalgamated Bank lifted its position in shares of Vera Therapeutics by 26.0% during the 3rd quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock worth $57,000 after buying an additional 864 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Vera Therapeutics by 810.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,834 shares of the company’s stock worth $38,000 after buying an additional 4,303 shares during the last quarter. Institutional investors own 99.21% of the company’s stock.

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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.