Vera Therapeutics (NASDAQ:VERA) Shares Gap Down – Here’s Why

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $26.63, but opened at $25.00. Vera Therapeutics shares last traded at $24.01, with a volume of 196,158 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on VERA. Guggenheim increased their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wolfe Research started coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their target price on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $64.67.

Vera Therapeutics Price Performance

The stock has a market cap of $1.40 billion, a P/E ratio of -8.44 and a beta of 1.17. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $30.51 and its two-hundred day simple moving average is $38.69.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. Sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in Vera Therapeutics in the 3rd quarter worth about $475,000. Charles Schwab Investment Management Inc. increased its stake in Vera Therapeutics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after buying an additional 10,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Vera Therapeutics by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock valued at $2,722,000 after purchasing an additional 6,494 shares during the period. Verition Fund Management LLC bought a new position in shares of Vera Therapeutics during the third quarter worth $1,910,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Vera Therapeutics by 109.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock valued at $416,000 after purchasing an additional 4,914 shares during the last quarter. Institutional investors 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.