Vera Therapeutics (NASDAQ:VERA) Shares Gap Down After Insider Selling

Vera Therapeutics, Inc. (NASDAQ:VERAGet Free Report) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $37.02, but opened at $35.00. Vera Therapeutics shares last traded at $32.05, with a volume of 160,823 shares.

Specifically, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares in the company, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company started coverage on Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target for the company. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Guggenheim boosted their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $63.50.

Check Out Our Latest Research Report on VERA

Vera Therapeutics Price Performance

The company has a market cap of $2.20 billion, a PE ratio of -13.32 and a beta of 1.15. The firm’s 50-day moving average is $45.20 and its 200-day moving average is $41.06. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERAGet Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). On average, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Samlyn Capital LLC grew its position in Vera Therapeutics by 90.8% during the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock valued at $44,571,000 after purchasing an additional 586,410 shares during the last quarter. First Light Asset Management LLC lifted its holdings in Vera Therapeutics by 130.6% in the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock valued at $36,387,000 after acquiring an additional 569,590 shares during the period. American Century Companies Inc. purchased a new position in shares of Vera Therapeutics in the second quarter worth approximately $14,015,000. Logos Global Management LP grew its position in shares of Vera Therapeutics by 65.2% during the 2nd quarter. Logos Global Management LP now owns 950,000 shares of the company’s stock valued at $34,371,000 after acquiring an additional 375,000 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Vera Therapeutics in the second quarter worth about $10,492,000. 99.21% of the stock is owned by institutional investors.

About Vera Therapeutics

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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.

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