Vera Therapeutics (NASDAQ:VERA) Shares Gap Down After Insider Selling

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $37.02, but opened at $35.00. Vera Therapeutics shares last traded at $32.05, with a volume of 160,823 shares trading hands.

Specifically, CEO Marshall Fordyce sold 17,500 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the sale, the chief executive officer now owns 143,603 shares of the company's stock, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Wells Fargo & Company started coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an "overweight" rating and a $70.00 target price for the company. Guggenheim lifted their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a report on Monday, October 28th. Evercore ISI raised shares of Vera Therapeutics to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Scotiabank assumed coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of "Buy" and a consensus price target of $63.50.

Vera Therapeutics Stock Performance

The company's 50-day simple moving average is $45.20 and its 200-day simple moving average is $41.06. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.32 and a beta of 1.15. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). On average, analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Hedge Funds Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in Vera Therapeutics by 202.4% during the second quarter. Victory Capital Management Inc. now owns 33,707 shares of the company's stock valued at $1,220,000 after acquiring an additional 22,560 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Vera Therapeutics by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company's stock valued at $358,000 after purchasing an additional 1,250 shares during the period. American Century Companies Inc. bought a new stake in shares of Vera Therapeutics during the 2nd quarter valued at about $14,015,000. Federated Hermes Inc. acquired a new stake in Vera Therapeutics during the second quarter worth approximately $10,492,000. Finally, Renaissance Technologies LLC increased its holdings in Vera Therapeutics by 28.5% in the second quarter. Renaissance Technologies LLC now owns 147,800 shares of the company's stock worth $5,347,000 after purchasing an additional 32,800 shares in the last quarter. 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.