H.C. Wainwright analyst Ed Arce lowered the firm’s price target on Vera Therapeutics to $11 from $15 and keeps a Buy rating on the shares, telling investors that the target change is due largely to the impact of equity dilution after Vera closed on an up-sized underwritten public equity offering of 16.4M shares of its Class A common stock at $7 per share on February 6. Management believes its current cash balance funds its IgAN-focused operations to early 2026, said the firm, which also notes that the increase in the total number of shares outstanding represents an equity dilution of 60%.
Published first on TheFly
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