Vera Therapeutics (NASDAQ:VERA) Reaches New 1-Year Low - What's Next?

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $25.81 and last traded at $25.99, with a volume of 458568 shares trading hands. The stock had previously closed at $26.95.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VERA. Wolfe Research began coverage on Vera Therapeutics in a report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price target for the company. Guggenheim increased their target price on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a "buy" rating and a $58.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Vera Therapeutics has a consensus rating of "Buy" and an average target price of $64.67.

Vera Therapeutics Price Performance

The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $30.93 and a 200-day moving average of $38.87. The stock has a market capitalization of $1.70 billion, a P/E ratio of -10.20 and a beta of 1.17.

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Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11. Sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In other 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 completion of the transaction, the chief executive officer now owns 143,603 shares in the company, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Vera Therapeutics during the third quarter valued at approximately $475,000. Charles Schwab Investment Management Inc. raised its stake in Vera Therapeutics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company's stock valued at $15,992,000 after acquiring an additional 10,717 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vera Therapeutics by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company's stock worth $2,722,000 after acquiring an additional 6,494 shares during the period. Verition Fund Management LLC bought a new position in shares of Vera Therapeutics in the third quarter worth $1,910,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Vera Therapeutics by 109.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company's stock valued at $416,000 after purchasing an additional 4,914 shares during the period. 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.