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

by · The Cerbat Gem

Vera Therapeutics, Inc. (NASDAQ:VERA – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $45.03, but opened at $41.57. Vera Therapeutics shares last traded at $43.2840, with a volume of 453,628 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Vera Therapeutics in a report on Friday, November 28th. JPMorgan Chase & Co. decreased their price target on Vera Therapeutics from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Cowen restated a “buy” rating on shares of Vera Therapeutics in a research note on Friday. Pivotal Research set a $73.00 price objective on Vera Therapeutics in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vera Therapeutics in a report on Wednesday, November 26th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vera Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

View Our Latest Report on VERA

Vera Therapeutics Stock Down 2.3%

The business’s 50 day moving average price is $30.70 and its 200-day moving average price is $25.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.21 and a current ratio of 12.21. The firm has a market capitalization of $2.81 billion, a PE ratio of -11.03 and a beta of 1.21.

Vera Therapeutics (NASDAQ:VERA – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06). During the same period in the prior year, the business posted ($0.85) earnings per share. As a group, equities research analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In related news, SVP Joseph R. Young sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $29.06, for a total transaction of $435,900.00. Following the sale, the senior vice president directly owned 47,839 shares of the company’s stock, valued at $1,390,201.34. This represents a 23.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.30% of the company’s stock.

Institutional Trading of Vera Therapeutics

A number of large investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in Vera Therapeutics by 25.0% in the first quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $60,000 after purchasing an additional 500 shares during the period. Virtus Investment Advisers LLC raised its holdings in Vera Therapeutics by 14.8% in the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock valued at $98,000 after acquiring an additional 539 shares in the last quarter. Invesco Ltd. lifted its stake in Vera Therapeutics by 2.0% in the second quarter. Invesco Ltd. now owns 27,847 shares of the company’s stock worth $656,000 after acquiring an additional 550 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Vera Therapeutics by 13.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,254 shares of the company’s stock valued at $124,000 after purchasing an additional 615 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Vera Therapeutics by 2.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,721 shares of the company’s stock valued at $744,000 after buying an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

About Vera Therapeutics

(Get Free Report)

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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