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

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price gapped down prior to trading 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 traded.

Analyst Ratings Changes

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

Vera Therapeutics Stock Down 5.4 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The firm’s 50 day moving average price is $40.41 and its two-hundred day moving average price is $38.91. The company has a market cap of $2.23 billion, a P/E ratio of -18.39 and a beta of 1.00.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at $11,548,950. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Beth C. Seidenberg sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the sale, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $11,548,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,398 shares of company stock worth $4,376,163 in the last three months. 21.70% of the stock is owned by insiders.

Institutional Trading of Vera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VERA. Capstone Investment Advisors LLC purchased a new stake in shares of Vera Therapeutics during the 1st quarter valued at about $248,000. FORA Capital LLC purchased a new stake in shares of Vera Therapeutics during the first quarter valued at about $692,000. Jennison Associates LLC acquired a new stake in Vera Therapeutics in the first quarter valued at approximately $3,231,000. SG Americas Securities LLC grew its stake in shares of Vera Therapeutics by 54.9% during the first quarter. SG Americas Securities LLC now owns 11,941 shares of the company’s stock worth $515,000 after acquiring an additional 4,232 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Vera Therapeutics by 27.7% in the 1st quarter. Swiss National Bank now owns 62,200 shares of the company’s stock worth $2,682,000 after purchasing an additional 13,500 shares in the last quarter. 99.21% of the stock is currently 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.