Jefferies Financial Group cut shares of Vera Therapeutics (NASDAQ:VERA – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat reports. Jefferies Financial Group currently has $6.00 price objective on the stock, down from their previous price objective of $32.00. Jefferies Financial Group also issued estimates for Vera Therapeutics' FY2023 earnings at ($2.10) EPS, FY2024 earnings at ($1.32) EPS, FY2025 earnings at ($2.03) EPS, FY2026 earnings at ($0.93) EPS and FY2027 earnings at $0.14 EPS.
A number of other equities research analysts have also recently weighed in on the company. HC Wainwright lowered their price target on Vera Therapeutics from $36.00 to $15.00 and set a buy rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Vera Therapeutics from $35.00 to $38.00 and gave the stock an overweight rating in a report on Friday, November 18th. Finally, Wedbush downgraded Vera Therapeutics from an outperform rating to a neutral rating and lowered their price target for the company from $33.00 to $8.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Vera Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $16.75.
Get Vera Therapeutics alerts:Vera Therapeutics Trading Down 2.1 %
Shares of NASDAQ VERA opened at $5.48 on Wednesday. The stock has a market capitalization of $151.58 million, a PE ratio of -1.85 and a beta of -0.02. The stock has a fifty day simple moving average of $16.88 and a 200-day simple moving average of $17.87. Vera Therapeutics has a twelve month low of $5.20 and a twelve month high of $24.98. The company has a current ratio of 7.85, a quick ratio of 7.85 and a debt-to-equity ratio of 0.05.
Vera Therapeutics (NASDAQ:VERA – Get Rating) last posted its earnings results on Wednesday, November 9th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.19). On average, equities analysts forecast that Vera Therapeutics will post -3.08 earnings per share for the current year.Insiders Place Their Bets
In other Vera Therapeutics news, insider Joanne Curley sold 2,212 shares of Vera Therapeutics stock in a transaction on Friday, December 16th. The shares were sold at an average price of $19.49, for a total transaction of $43,111.88. Following the completion of the sale, the insider now owns 26,821 shares of the company's stock, valued at approximately $522,741.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 14,091 shares of company stock worth $261,974. 43.10% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in VERA. Amalgamated Bank bought a new stake in Vera Therapeutics in the first quarter valued at about $34,000. American International Group Inc. increased its stake in Vera Therapeutics by 29.2% in the first quarter. American International Group Inc. now owns 6,794 shares of the company's stock valued at $160,000 after purchasing an additional 1,535 shares in the last quarter. UBS Group AG bought a new stake in shares of Vera Therapeutics during the first quarter worth $47,000. Northern Trust Corp increased its position in shares of Vera Therapeutics by 2.8% during the second quarter. Northern Trust Corp now owns 112,470 shares of the company's stock worth $1,531,000 after acquiring an additional 3,063 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Vera Therapeutics by 274.8% during the second quarter. Legal & General Group Plc now owns 4,898 shares of the company's stock worth $67,000 after purchasing an additional 3,591 shares during the last quarter. Institutional investors own 88.64% of the company's stock.
About Vera Therapeutics
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Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases in the United States. 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.
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