Vera Therapeutics (NASDAQ:VERA) Stock Falls 8.3% – What’s Next?

Vera Therapeutics, Inc. (NASDAQ:VERA) traded down 8.3% during trading on Wednesday. The stock traded as low as $33.21 and last traded at $33.2410. Approximately 496,708 shares traded hands during trading, a decline of 69% from the average daily volume of 1,604,614 shares. The stock had previously closed at $36.26.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $34.00 price target on shares of Vera Therapeutics in a research report on Monday, August 17th. Bank of America raised their target price on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vera Therapeutics in a research report on Friday, July 17th. William Blair restated an “outperform” rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Vera Therapeutics from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.15.

Vera Therapeutics Trading Up 0.9%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.92 and a current ratio of 10.92. The company has a 50 day simple moving average of $33.68 and a two-hundred day simple moving average of $36.72. The company has a market cap of $2.40 billion, a PE ratio of -5.69 and a beta of 0.96.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.06. During the same quarter in the previous year, the business earned ($1.20) earnings per share. Sell-side analysts forecast that Vera Therapeutics, Inc. will post -6.44 EPS for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 46,250 shares of the stock in a transaction that occurred on 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 owned 151,994 shares in the company, valued at $6,429,346.20. This represents a 23.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 83,250 shares of company stock valued at $3,290,595. 15.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Elmind Capital LP bought a new stake in Vera Therapeutics in the fourth quarter worth $24,434,000. Readystate Asset Management LP bought a new position in Vera Therapeutics during the second quarter valued at about $12,663,000. Rhenman & Partners Asset Management AB lifted its position in shares of Vera Therapeutics by 223.1% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 420,000 shares of the company’s stock worth $21,269,000 after buying an additional 290,000 shares during the last quarter. Eversept Partners LP lifted its position in shares of Vera Therapeutics by 9.4% in the fourth quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock worth $155,581,000 after buying an additional 264,468 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Vera Therapeutics by 136.5% during the 1st quarter. Renaissance Technologies LLC now owns 457,300 shares of the company’s stock worth $18,397,000 after acquiring an additional 263,900 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera’s leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.