Vera Therapeutics (NASDAQ:VERA) Shares Gap Up - Here's What Happened

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $34.84, but opened at $36.88. Vera Therapeutics shares last traded at $35.09, with a volume of 141,886 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VERA. Wells Fargo & Company initiated coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Vera Therapeutics in a report on Tuesday. They set a "buy" rating and a $58.00 target price for the company. Guggenheim boosted their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $67.50.

Vera Therapeutics Trading Up 3.3 %

The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -13.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The business's 50-day moving average price is $42.18 and its 200 day moving average price is $40.91.

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

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total value of $821,450.00. Following the completion of the sale, the chief executive officer now directly owns 85,942 shares of the company's stock, valued at $4,034,117.48. The trade was a 16.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 52,500 shares of company stock valued at $2,305,625 over the last three months. Company insiders own 21.70% of the company's stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock worth $86,000 after acquiring an additional 350 shares during the period. KBC Group NV grew its position in Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after purchasing an additional 1,387 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Vera Therapeutics during the 2nd quarter worth about $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vera Therapeutics during the second quarter valued at about $163,000. Finally, Quarry LP bought a new stake in shares of Vera Therapeutics in the second quarter valued at about $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.