Vera Therapeutics (NASDAQ:VERA) Stock Price Down 4.6% – Here’s Why

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price fell 4.6% during trading on Monday . The company traded as low as $44.00 and last traded at $44.13. 217,934 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 907,844 shares. The stock had previously closed at $46.26.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VERA shares. Wedbush boosted their target price on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Scotiabank began coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Guggenheim upped their price target on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Vera Therapeutics has an average rating of “Buy” and a consensus target price of $57.88.

Vera Therapeutics Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $39.44.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). As a group, research analysts predict that Vera Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the transaction, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,398 shares of company stock valued at $4,376,163 over the last quarter. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of VERA. Mirae Asset Global Investments Co. Ltd. grew its stake in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after buying an additional 350 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Vera Therapeutics in the 2nd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vera Therapeutics in the second quarter valued at about $163,000. Ameritas Investment Partners Inc. raised 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 valued at $172,000 after purchasing an additional 688 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics during the first quarter worth about $235,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.