Vera Therapeutics (NASDAQ:VERA) Trading Down 2.6% - Should You Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s share price was down 2.6% during mid-day trading on Monday . The stock traded as low as $21.64 and last traded at $21.85. Approximately 159,903 shares changed hands during trading, a decline of 79% from the average daily volume of 756,040 shares. The stock had previously closed at $22.43.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wolfe Research began coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They set an "outperform" rating and a $49.00 target price on the stock. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group started coverage on Vera Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $58.00 target price for the company. Finally, Guggenheim lifted their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Vera Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $64.67.

Vera Therapeutics Trading Up 0.2 %

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 firm has a market cap of $1.36 billion, a price-to-earnings ratio of -8.16 and a beta of 1.28. The business's 50 day moving average price is $26.09 and its 200-day moving average price is $36.53.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.11. Equities analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avoro Capital Advisors LLC boosted its stake in Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock valued at $237,247,000 after purchasing an additional 1,300,410 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Vera Therapeutics by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,377,049 shares of the company's stock valued at $185,107,000 after acquiring an additional 437,940 shares during the last quarter. FMR LLC increased its holdings in shares of Vera Therapeutics by 9.6% during the 4th quarter. FMR LLC now owns 3,053,126 shares of the company's stock valued at $129,117,000 after acquiring an additional 267,842 shares during the last quarter. Vanguard Group Inc. lifted its position in Vera Therapeutics by 14.3% during the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock worth $124,737,000 after acquiring an additional 369,387 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP grew its stake in shares of Vera Therapeutics by 31.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 1,437,339 shares of the company's stock worth $60,785,000 after acquiring an additional 340,488 shares during the last quarter. 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.