Vera Therapeutics (NASDAQ:VERA) Shares Down 4.6% – Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA) was down 4.6% during mid-day trading on Monday . The company traded as low as $44.00 and last traded at $44.13. Approximately 217,934 shares traded hands during trading, a decline of 76% from the average daily volume of 907,844 shares. The stock had previously closed at $46.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VERA shares. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Scotiabank started 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 target on the stock. Guggenheim lifted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $57.88.

Vera Therapeutics Trading Down 0.3 %

The firm has a market cap of $2.90 billion, a PE ratio of -17.59 and a beta of 1.03. The company’s fifty day moving average price is $42.87 and its two-hundred day moving average price is $39.47. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 15,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the sale, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. The trade was a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,927 shares of company stock worth $3,800,796. Company insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Several large investors have recently bought and sold shares of VERA. Mirae Asset Global Investments Co. Ltd. grew its position in 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 purchasing an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Vera Therapeutics during the 2nd quarter worth approximately $135,000. Ameritas Investment Partners Inc. lifted its position in shares of Vera Therapeutics by 20.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics in the second quarter valued at $163,000. Finally, Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics in the first quarter valued at about $235,000. 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.