HC Wainwright Has Lowered Expectations for Vera Therapeutics (NASDAQ:VERA) Stock Price

Vera Therapeutics (NASDAQ:VERA) had its price objective cut by HC Wainwright from $90.00 to $75.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s price target would indicate a potential upside of 148.84% from the stock’s previous close.

A number of other brokerages have also recently issued reports on VERA. TD Cowen restated a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a research note on Thursday, October 15th. Wedbush reiterated a “neutral” rating and issued a $34.00 price target on shares of Vera Therapeutics in a research report on Monday, August 17th. Raymond James Financial reissued a “strong-buy” rating on shares of Vera Therapeutics in a research note on Monday, October 26th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $75.79.

Vera Therapeutics Stock Down 5.7%

Shares of Vera Therapeutics stock opened at $30.14 on Friday. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18. Vera Therapeutics has a 12 month low of $23.05 and a 12 month high of $56.05. The business has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $36.75. The stock has a market cap of $2.17 billion, a PE ratio of -5.14 and a beta of 1.07.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.30) EPS for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.32. The company had revenue of $10.28 million during the quarter, compared to the consensus estimate of $3.42 million. Research analysts predict that Vera Therapeutics will post -6.45 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 18,500 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the sale, the chief executive officer owned 235,244 shares of the company’s stock, valued at approximately $8,704,028. This trade represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. bought a new stake in shares of Vera Therapeutics in the third quarter worth about $32,000. Arizona State Retirement System raised its position in shares of Vera Therapeutics by 12.3% during the second 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 period. ADAR1 Capital Management LLC lifted its holdings in shares of Vera Therapeutics by 8.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 16,033 shares of the company’s stock valued at $645,000 after purchasing an additional 1,300 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Vera Therapeutics by 4.7% during the 3rd quarter. AMI Asset Management Corp now owns 32,028 shares of the company’s stock valued at $1,034,000 after purchasing an additional 1,446 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Vera Therapeutics by 15.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,149 shares of the company’s stock valued at $426,000 after purchasing an additional 1,725 shares in the last quarter. 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 immunological diseases. The company’s research is centered on therapies that target the underlying causes of autoimmune conditions rather than primarily addressing their symptoms.

Vera’s lead product candidate is atacicept, a biologic designed to inhibit the B-cell survival factors BLyS and APRIL. The company has been evaluating atacicept in IgA nephropathy, an autoimmune kidney disease that can lead to progressive loss of kidney function, and has also investigated its potential in other immune-mediated diseases.