Vera Therapeutics (NASDAQ:VERA) Shares Gap Down – What’s Next?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wolfe Research assumed 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. JPMorgan Chase & Co. cut their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Guggenheim boosted their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.67.

Vera Therapeutics Trading Down 8.3 %

The business’s 50 day moving average price is $30.51 and its 200-day moving average price is $38.69. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. On average, research analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total transaction of $730,450.00. Following the sale, the chief executive officer now directly owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its position in Vera Therapeutics by 19.9% in the 4th quarter. California State Teachers Retirement System now owns 40,640 shares of the company’s stock valued at $1,719,000 after purchasing an additional 6,749 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Vera Therapeutics in the fourth quarter valued at $56,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Vera Therapeutics by 30.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,106 shares of the company’s stock worth $3,388,000 after buying an additional 18,532 shares in the last quarter. Woodline Partners LP lifted its position in Vera Therapeutics by 20.1% during the 4th quarter. Woodline Partners LP now owns 1,202,466 shares of the company’s stock worth $50,852,000 after buying an additional 201,573 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in Vera Therapeutics during the 4th quarter worth about $45,462,000. 99.21% of the stock is owned by institutional investors and hedge funds.

About Vera Therapeutics

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.