Vera Therapeutics (NASDAQ:VERA) Posts Earnings Results, Misses Estimates By $0.21 EPS

Vera Therapeutics (NASDAQ:VERA) announced its quarterly earnings data on Thursday. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21), Briefing.com reports.

Vera Therapeutics Price Performance

VERA stock traded down $0.64 during midday trading on Friday, reaching $48.40. The company had a trading volume of 358,288 shares, compared to its average volume of 913,326. The firm has a 50-day moving average price of $41.33 and a 200-day moving average price of $39.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The company has a market capitalization of $2.65 billion, a P/E ratio of -21.52 and a beta of 1.03. Vera Therapeutics has a 1 year low of $10.79 and a 1 year high of $50.78.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at $14,182,110.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Marshall Fordyce sold 23,125 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $14,182,110.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,398 shares of company stock valued at $4,376,163. Insiders own 21.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VERA. JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday. Scotiabank assumed coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target for the company. Wedbush boosted their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Finally, Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Vera Therapeutics has a consensus rating of “Buy” and an average price target of $54.33.

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