Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $22.34 and last traded at $24.02, with a volume of 2705814 shares traded. The stock had previously closed at $26.63.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, March 4th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 price target for the company. Wolfe Research began coverage on Vera Therapeutics in a report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective for the company. Finally, Guggenheim lifted their target price on Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One research 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 data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $64.67.
Check Out Our Latest Stock Report on Vera Therapeutics
Vera Therapeutics Price Performance
The stock has a 50 day moving average of $30.30 and a two-hundred day moving average of $38.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The stock has a market cap of $1.45 billion, a PE ratio of -8.71 and a beta of 1.17.
Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued 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. Equities analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.
Insider Activity
In related news, CEO Marshall Fordyce sold 17,500 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the transaction, the chief executive officer now directly owns 143,603 shares of the company's stock, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.70% of the company's stock.
Hedge Funds Weigh In On Vera Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC boosted its holdings in shares of Vera Therapeutics by 30.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock worth $237,247,000 after purchasing an additional 1,300,410 shares during the period. Vestal Point Capital LP purchased a new stake in Vera Therapeutics in the 4th quarter worth approximately $45,462,000. Lord Abbett & CO. LLC boosted its stake in shares of Vera Therapeutics by 170.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company's stock valued at $48,788,000 after buying an additional 727,656 shares during the period. Federated Hermes Inc. grew its holdings in shares of Vera Therapeutics by 162.2% during the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company's stock valued at $45,926,000 after acquiring an additional 671,881 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its stake in shares of Vera Therapeutics by 130.0% in the fourth quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock worth $48,634,000 after acquiring an additional 650,000 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company's stock.
About Vera Therapeutics
(
Get Free Report)
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.
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