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

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) 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 trading hands.

Specifically, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, January 8th. The stock was 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 of the company’s stock, valued at $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

VERA has been the topic of a number of research reports. Wells Fargo & Company started coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price objective on the stock. Guggenheim increased their target price on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, October 28th. 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. Scotiabank assumed coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $63.50.

Vera Therapeutics Stock Down 0.5 %

The company has a market capitalization of $2.19 billion, a P/E ratio of -13.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The company has a 50 day moving average of $44.94 and a 200-day moving average of $41.05.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data 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). As a group, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Institutional Trading of Vera Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Vera Therapeutics in the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vera Therapeutics in the second quarter worth $163,000. Quarry LP bought a new position in Vera Therapeutics in the second quarter worth $235,000. Finally, AlphaCentric Advisors LLC purchased a new position in Vera Therapeutics during the third quarter valued at $332,000. 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.