VERA - Vera Therapeutics stock shoots up more than 75% intraday as post-IPO rally rolls on

Vera Therapeutics (VERA) soared more than 75% intraday as the biotech’s stock extended a post-IPO rally into five sessions.VERA rose to as high as $26.97, up 75.7% for the day and 145.2% from the $11 a share that the stock’s initial public offering priced at just last week. The stock has been on a tear ever since then, rising for five straight sessions – including a 24.7% gain on Wednesday.Although VERA pulled back later Thursday, the stock was still changing hands at $19.92 shortly before 2:45 p.m. ET, up 29.8% for the day and 81% from the IPO price. Vera has been rising despite no apparent news since the stock’s IPO.The company's lead experimental drug is called atacicept, a so-called “fusion protein” designed to treat a disease called IgA nephropathy. Vera believes the drug might also help with other immunologic diseases like lupus nephritis.

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Vera Therapeutics stock shoots up more than 75% intraday as post-IPO rally rolls on