Vera Therapeutics (NASDAQ:VERA) Shares Gap Down - Here's Why

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $47.34, but opened at $45.35. Vera Therapeutics shares last traded at $47.46, with a volume of 85,246 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VERA shares. JPMorgan Chase & Co. lifted their price target on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 3rd. Guggenheim boosted their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a report on Monday. Scotiabank started coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price objective on the stock. Evercore ISI upgraded Vera Therapeutics to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $53.56.

Vera Therapeutics Stock Performance

The company has a market capitalization of $2.36 billion, a P/E ratio of -20.03 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. The business's fifty day simple moving average is $40.34 and its 200-day simple moving average is $38.93.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, equities analysts anticipate that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Insider Activity

In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at $14,182,110.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at $14,182,110.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the sale, the director now owns 160,376 shares of the company's stock, valued at $6,737,395.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,398 shares of company stock worth $3,655,713. 21.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of VERA. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 worth $86,000 after purchasing an additional 350 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company's stock valued at $172,000 after buying an additional 688 shares in the last quarter. Arizona State Retirement System boosted its position in Vera Therapeutics by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company's stock valued at $358,000 after buying an additional 1,250 shares during the period. Ensign Peak Advisors Inc grew its stake in Vera Therapeutics by 13.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company's stock worth $425,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vera Therapeutics by 30.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company's stock valued at $272,000 after acquiring an additional 1,737 shares in the last quarter. 99.21% of the stock is owned by institutional investors.

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.