Vera Therapeutics (NASDAQ:VERA) Hits New 1-Year Low – What’s Next?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) reached a new 52-week low during trading on Friday . The stock traded as low as $28.78 and last traded at $28.69, with a volume of 281860 shares. The stock had previously closed at $34.18.

Analysts Set New Price Targets

Several research firms have commented on VERA. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price for the company. Guggenheim upped their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wolfe Research initiated coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective on the stock. Finally, Wedbush raised their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vera Therapeutics currently has an average rating of “Buy” and an average price target of $65.44.

Vera Therapeutics Stock Down 18.7 %

The firm has a fifty day simple moving average of $39.33 and a 200-day simple moving average of $40.91. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -10.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total value of $821,450.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares of the company’s stock, valued at approximately $4,034,117.48. This represents a 16.92 % 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 the SEC website. Over the last 90 days, insiders sold 52,500 shares of company stock valued at $2,305,625. 21.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VERA. Huntington National Bank acquired a new position in shares of Vera Therapeutics in the fourth quarter valued at approximately $26,000. AlphaQuest LLC acquired a new position in shares of Vera Therapeutics in the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 350 shares during the period. KBC Group NV increased its stake in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after buying an additional 1,387 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Vera Therapeutics by 16.0% in the fourth quarter. Ameritas Investment Partners Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after buying an additional 639 shares during the period. 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.