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

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

Several other research firms have also commented on VERA. JPMorgan Chase & Co. lowered their price target on shares of Vera Therapeutics from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 30th. Oppenheimer initiated coverage on Vera Therapeutics in a report on Thursday, January 25th. They set an “outperform” rating and a $26.00 target price on the stock. Wedbush boosted their price target on Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Vera Therapeutics in a research note on Wednesday, December 27th. Finally, Raymond James raised shares of Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $29.00 to $37.00 in a research note on Friday, January 26th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $32.29.

Vera Therapeutics Price Performance

Shares of VERA stock traded up $2.25 during mid-day trading on Wednesday, reaching $43.83. The stock had a trading volume of 495,575 shares, compared to its average volume of 1,298,314. The company has a market cap of $2.30 billion, a P/E 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 12-month low of $5.95 and a 12-month high of $50.78. The business has a 50-day simple moving average of $39.19 and a 200 day simple moving average of $22.79.

Insider Activity at Vera Therapeutics

In other news, major shareholder Commodore Capital Lp sold 1,050,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 4,400,000 shares in the company, valued at $79,200,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vera Therapeutics news, Director Maha Katabi bought 161,290 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $31.00 per share, for a total transaction of $4,999,990.00. Following the transaction, the director now directly owns 3,628,446 shares in the company, valued at $112,481,826. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Commodore Capital Lp sold 1,050,000 shares of the business’s 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. In the last three months, insiders sold 1,471,009 shares of company stock worth $36,250,598. Corporate insiders own 22.60% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VERA. UBS Group AG bought a new position in Vera Therapeutics during the first quarter valued at about $47,000. Ameritas Investment Partners Inc. grew 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 worth $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% in the 2nd quarter. Royal Bank of Canada now owns 3,339 shares of the company’s stock worth $54,000 after purchasing an additional 1,625 shares in the last quarter. Amalgamated Bank boosted its holdings in Vera Therapeutics by 26.0% during the third quarter. Amalgamated Bank now owns 4,189 shares of the company’s stock worth $57,000 after buying an additional 864 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Vera Therapeutics by 810.4% in the first 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. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.