Vera Therapeutics (NASDAQ:VERA) Shares Gap Down – Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA) gapped down before the market opened on Tuesday . The stock had previously closed at $47.34, but opened at $45.35. Vera Therapeutics shares last traded at $47.46, with a volume of 85,246 shares.

Wall Street Analysts Forecast Growth

VERA has been the subject of several recent analyst reports. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price for the company. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Guggenheim increased their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $53.56.

Vera Therapeutics Stock Down 4.6 %

The company has a market cap of $2.48 billion, a price-to-earnings ratio of -21.42 and a beta of 1.00. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $40.34 and a two-hundred day moving average price of $38.93.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, equities analysts predict that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Marshall Fordyce sold 23,125 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $14,182,110.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now directly owns 160,376 shares of the company’s stock, valued at $6,737,395.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,398 shares of company stock worth $3,655,713. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently modified their holdings of VERA. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after acquiring an additional 350 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Vera Therapeutics in the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Vera Therapeutics in the second quarter worth $163,000. Ameritas Investment Partners Inc. lifted its position in Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares during the period. Finally, Cetera Advisors LLC bought a new position in Vera Therapeutics in the first quarter worth $235,000. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Company Profile

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.