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

Vera Therapeutics (NASDAQ:VERA) had its target price hoisted by research analysts at Guggenheim from $27.00 to $56.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 27.77% from the stock’s current price.

Several other research analysts have also issued reports on VERA. Oppenheimer initiated coverage on Vera Therapeutics in a research report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 target price for the company. Raymond James raised Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $29.00 to $37.00 in a research report on Friday, January 26th. Cantor Fitzgerald assumed coverage on shares of Vera Therapeutics in a research report on Monday, January 8th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Vera Therapeutics from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, November 30th. Finally, Wedbush upped their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.29.

Vera Therapeutics Trading Up 5.4 %

NASDAQ VERA traded up $2.25 during trading on Wednesday, hitting $43.83. The company had a trading volume of 495,575 shares, compared to its average volume of 1,298,314. The company’s fifty day moving average is $39.19 and its 200-day moving average is $22.79. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -18.92 and a beta of 1.10. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.20. Vera Therapeutics has a one year low of $5.95 and a one year high of $50.78.

Insider Activity

In other Vera Therapeutics news, Director Maha Katabi sold 340,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $40.50, for a total value of $13,770,000.00. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. In other news, Director Maha Katabi sold 340,000 shares of Vera Therapeutics stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $40.50, for a total transaction of $13,770,000.00. Following the transaction, the director now directly owns 2,793,987 shares of the company’s stock, valued at approximately $113,156,473.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $18,900,000.00. Following the sale, the insider now owns 4,400,000 shares of the company’s stock, valued at approximately $79,200,000. The disclosure for this sale can be found here. Insiders have sold 1,471,009 shares of company stock valued at $36,250,598 in the last ninety days. 22.60% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Vera Therapeutics by 0.9% during the 4th quarter. California State Teachers Retirement System now owns 27,271 shares of the company’s stock valued at $419,000 after purchasing an additional 248 shares during the last quarter. Amalgamated Bank increased its stake in Vera Therapeutics by 26.0% in the 3rd quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock worth $57,000 after acquiring an additional 864 shares during the last quarter. American International Group Inc. raised its holdings in shares of Vera Therapeutics by 29.2% during the 1st quarter. American International Group Inc. now owns 6,794 shares of the company’s stock worth $160,000 after acquiring an additional 1,535 shares in the last quarter. Royal Bank of Canada boosted its position 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 valued at $54,000 after acquiring an additional 1,625 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Vera Therapeutics by 163.1% in the second 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 in the last quarter. 99.21% of the stock is currently owned by institutional investors.

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