Cantor Fitzgerald Reaffirms “Overweight” Rating for Vera Therapeutics (NASDAQ:VERA)

Vera Therapeutics (NASDAQ:VERA)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They presently have a $107.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 156.29% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on VERA. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vera Therapeutics presently has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Stock Down 2.5 %

VERA opened at $41.75 on Tuesday. The stock has a fifty day moving average of $38.89 and a 200-day moving average of $39.05. The company has a market capitalization of $2.29 billion, a P/E ratio of -20.37 and a beta of 0.99. Vera Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, equities analysts expect that Vera Therapeutics will post -2.57 EPS for the current year.

Insider Activity

In related news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total transaction of $575,366.96. Following the completion of the sale, the chief executive officer now directly owns 322,667 shares in the company, valued at approximately $12,829,239.92. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Marshall Fordyce sold 14,471 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $39.76, for a total value of $575,366.96. Following the sale, the chief executive officer now directly owns 322,667 shares of the company’s stock, valued at $12,829,239.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now directly owns 160,376 shares in the company, valued at $6,737,395.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,398 shares of company stock worth $2,275,656. Insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Large investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado acquired a new stake in Vera Therapeutics in the second quarter valued at about $135,000. Ameritas Investment Partners Inc. raised its position in Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after purchasing an additional 688 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Vera Therapeutics in the second quarter valued at about $163,000. Cetera Advisors LLC bought a new position in Vera Therapeutics in the first quarter valued at about $235,000. Finally, Capstone Investment Advisors LLC bought a new position in Vera Therapeutics in the first quarter valued at about $248,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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 III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.