Vera Therapeutics (NASDAQ:VERA) Stock Price Down 4.5%

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price fell 4.5% during trading on Wednesday . The company traded as low as $33.55 and last traded at $33.65. 163,515 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,109,753 shares. The stock had previously closed at $35.23.

Analyst Ratings Changes

A number of research firms have commented on VERA. Guggenheim reissued a “buy” rating and issued a $56.00 target price on shares of Vera Therapeutics in a report on Friday, April 5th. Wedbush lifted their price target on Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target on Vera Therapeutics from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Raymond James lifted their price target on Vera Therapeutics from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vera Therapeutics has a consensus rating of “Buy” and an average price target of $42.86.

Vera Therapeutics Stock Down 3.9 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 28.63 and a current ratio of 28.63. The company has a market cap of $1.85 billion, a PE ratio of -16.10 and a beta of 1.04. The firm has a fifty day simple moving average of $39.31 and a 200 day simple moving average of $35.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). Equities research analysts predict that Vera Therapeutics, Inc. will post -2.34 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other news, CFO Sean Grant sold 99,828 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the completion of the sale, the chief financial officer now directly owns 66,337 shares of the company’s stock, valued at $2,627,608.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Joseph R. Young sold 5,714 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $40.00, for a total transaction of $228,560.00. Following the completion of the sale, the senior vice president now directly owns 53,171 shares of the company’s stock, valued at approximately $2,126,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Grant sold 99,828 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $39.61, for a total value of $3,954,187.08. Following the sale, the chief financial officer now directly owns 66,337 shares of the company’s stock, valued at $2,627,608.57. The disclosure for this sale can be found here. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in shares of Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Vera Therapeutics by 12.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,116 shares of the company’s stock worth $356,000 after purchasing an additional 2,537 shares in the last quarter. American International Group Inc. increased its holdings in shares of Vera Therapeutics by 17.6% during the 1st quarter. American International Group Inc. now owns 19,764 shares of the company’s stock valued at $852,000 after acquiring an additional 2,957 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Vera Therapeutics by 54.9% during the 1st quarter. SG Americas Securities LLC now owns 11,941 shares of the company’s stock valued at $515,000 after acquiring an additional 4,232 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Vera Therapeutics by 96.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,117 shares of the company’s stock valued at $436,000 after acquiring an additional 4,974 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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.