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

Vera Therapeutics (NASDAQ:VERA) had its price objective dropped by research analysts at Wedbush from $43.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price target points to a potential upside of 10.55% from the stock’s previous close.

A number of other analysts have also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $90.00 price target on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Friday, July 17th. HC Wainwright upped their price objective on Vera Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, TD Cowen boosted their price target on Vera Therapeutics from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.83.

Vera Therapeutics Stock Performance

Shares of VERA opened at $30.76 on Tuesday. The business has a 50-day simple moving average of $36.53 and a two-hundred day simple moving average of $38.93. The company has a quick ratio of 13.64, a current ratio of 13.64 and a debt-to-equity ratio of 0.15. Vera Therapeutics has a 52 week low of $19.93 and a 52 week high of $56.05. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -5.65 and a beta of 0.92.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.60) by $0.08. During the same period in the previous year, the firm earned ($1.20) EPS. On average, analysts expect that Vera Therapeutics will post -6.37 EPS for the current year.

Insider Activity

In related news, CEO Marshall Fordyce sold 46,250 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total value of $1,956,375.00. Following the completion of the sale, the chief executive officer directly owned 151,994 shares of the company’s stock, valued at $6,429,346.20. This represents a 23.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Vera Therapeutics by 49.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,461,976 shares of the company’s stock worth $276,595,000 after purchasing an additional 1,795,537 shares in the last quarter. Vestal Point Capital LP raised its holdings in shares of Vera Therapeutics by 24.0% in the second quarter. Vestal Point Capital LP now owns 3,100,000 shares of the company’s stock worth $73,036,000 after buying an additional 600,000 shares during the last quarter. Elmind Capital LP acquired a new stake in shares of Vera Therapeutics during the fourth quarter worth $24,434,000. Armistice Capital LLC grew its holdings in shares of Vera Therapeutics by 294.1% during the third quarter. Armistice Capital LLC now owns 536,000 shares of the company’s stock valued at $15,576,000 after buying an additional 400,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Vera Therapeutics by 11.9% in the 4th quarter. Vanguard Group Inc. now owns 3,570,401 shares of the company’s stock valued at $180,805,000 after acquiring an additional 379,748 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.