Vera Therapeutics (NASDAQ:VERA) Shares Gap Up - Here's What Happened

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $41.09, but opened at $49.90. Vera Therapeutics shares last traded at $46.33, with a volume of 548,549 shares.

Wall Street Analysts Forecast Growth

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

Vera Therapeutics Price Performance

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 firm has a fifty day simple moving average of $40.18 and a two-hundred day simple moving average of $38.94. The firm has a market cap of $2.60 billion, a PE ratio of -21.35 and a beta of 1.00.

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

Insider Activity

In other Vera Therapeutics news, CEO Marshall Fordyce sold 23,125 shares of Vera Therapeutics 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 completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction, the chief executive officer now owns 307,972 shares of the company's stock, valued at approximately $14,182,110.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,398 shares of company stock valued at $3,655,713 in the last ninety days. Insiders own 21.70% of the company's stock.

Institutional Trading of Vera Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 350 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Vera Therapeutics during the second quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vera Therapeutics during the second quarter valued at approximately $163,000. Ameritas Investment Partners Inc. increased its holdings in Vera Therapeutics by 20.8% during the first 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 during the period. Finally, Cetera Advisors LLC bought a new position in Vera Therapeutics in the first quarter worth approximately $235,000. Institutional investors own 99.21% of the company's stock.

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.