Vera Therapeutics (NASDAQ:VERA) Sees Large Volume Increase - Time to Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) saw strong trading volume on Wednesday . 392,951 shares traded hands during trading, a decline of 56% from the previous session's volume of 889,447 shares.The stock last traded at $41.51 and had previously closed at $42.97.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VERA shares. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Vera Therapeutics from $62.00 to $72.00 and gave the company an "overweight" rating in a report on Tuesday, September 3rd. Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a research note on Monday, September 16th. Scotiabank began coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price objective for the company. Finally, Guggenheim increased their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday. One investment 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 company. According to data from MarketBeat.com, Vera Therapeutics currently has a consensus rating of "Buy" and an average price target of $53.56.

Vera Therapeutics Trading Down 5.4 %

The company has a market capitalization of $2.23 billion, a PE ratio of -18.39 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 has a fifty day moving average price of $40.41 and a 200 day moving average price of $38.91.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data 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). Analysts expect that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vera Therapeutics news, CEO Marshall Fordyce sold 15,625 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at $11,548,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now directly 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 have sold 104,398 shares of company stock valued at $4,376,163 over the last three months. 21.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock valued at $86,000 after acquiring an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Vera Therapeutics during the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vera Therapeutics in the second quarter valued at approximately $163,000. Ameritas Investment Partners Inc. grew its holdings in shares of 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 purchasing an additional 688 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Vera Therapeutics during the first quarter valued at approximately $235,000. 99.21% of the stock is owned by institutional investors and hedge funds.

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.