Vera Therapeutics (NASDAQ:VERA) Trading Down 7.3% - Should You Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares traded down 7.3% on Friday . The company traded as low as $39.01 and last traded at $39.12. 128,823 shares changed hands during trading, a decline of 67% from the average session volume of 387,142 shares. The stock had previously closed at $42.19.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective for the company. Wedbush boosted their target price on Vera Therapeutics from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, Guggenheim raised their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $63.50.

Vera Therapeutics Stock Performance

The stock's 50 day moving average is $45.55 and its two-hundred day moving average is $40.95. The firm has a market capitalization of $2.34 billion, a P/E ratio of -14.18 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.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its 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). As a group, equities analysts anticipate 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 Vera Therapeutics stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $46.94, for a total value of $821,450.00. Following the sale, the chief executive officer now owns 85,942 shares of the company's stock, valued at $4,034,117.48. This trade represents a 16.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 15,000 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,875 shares of company stock worth $3,808,631. 21.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock valued at $86,000 after acquiring an additional 350 shares in the last quarter. Arizona State Retirement System grew its stake in Vera Therapeutics by 14.4% in the second 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 in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company's stock worth $425,000 after purchasing an additional 1,400 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Vera Therapeutics by 19.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company's stock worth $610,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Point72 DIFC Ltd grew its stake in shares of Vera Therapeutics by 8.4% in the third quarter. Point72 DIFC Ltd now owns 43,789 shares of the company's stock valued at $1,935,000 after buying an additional 3,376 shares in the last quarter. Institutional investors and hedge funds 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.