Insider Selling: Vera Therapeutics, Inc. (NASDAQ:VERA) Director Sells $13,770,000.00 in Stock

Vera Therapeutics, Inc. (NASDAQ:VERA) Director Maha Katabi sold 340,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $40.50, for a total transaction of $13,770,000.00. Following the sale, the director now owns 2,793,987 shares of the company’s stock, valued at $113,156,473.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Maha Katabi also recently made the following trade(s):

• On Thursday, March 21st, Maha Katabi sold 81,009 shares of Vera Therapeutics stock. The stock was sold at an average price of $44.20, for a total transaction of $3,580,597.80.
• On Tuesday, January 30th, Maha Katabi acquired 161,290 shares of Vera Therapeutics stock. The stock was acquired at an average cost of $31.00 per share, for a total transaction of $4,999,990.00.

Vera Therapeutics Trading Up 5.4 %

Shares of VERA opened at $43.83 on Thursday. The company’s fifty day moving average is $39.76 and its 200 day moving average is $22.93. Vera Therapeutics, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $50.78. The stock has a market capitalization of $2.30 billion, a PE ratio of -19.14 and a beta of 1.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.97 and a current ratio of 6.97.

Institutional Investors Weigh In On Vera Therapeutics

Several large investors have recently bought and sold shares of VERA. JPMorgan Chase & Co. increased its position in Vera Therapeutics by 96.5% in the first quarter. JPMorgan Chase & Co. now owns 149,601 shares of the company’s stock worth $3,514,000 after purchasing an additional 73,475 shares during the last quarter. Bank of New York Mellon Corp increased its position in Vera Therapeutics by 137.2% during the first quarter. Bank of New York Mellon Corp now owns 48,836 shares of the company’s stock valued at $1,146,000 after acquiring an additional 28,247 shares during the last quarter. Citigroup Inc. increased its position in Vera Therapeutics by 310.0% during the first quarter. Citigroup Inc. now owns 10,895 shares of the company’s stock valued at $256,000 after acquiring an additional 8,238 shares during the last quarter. MetLife Investment Management LLC bought a new position in Vera Therapeutics during the first quarter valued at $209,000. Finally, Rhumbline Advisers bought a new position in Vera Therapeutics during the first quarter valued at $244,000. Institutional investors own 99.21% of the company’s stock.

Analyst Upgrades and Downgrades

VERA has been the topic of a number of research reports. Wedbush raised their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Guggenheim lifted their price target on shares of Vera Therapeutics from $27.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald started coverage on shares of Vera Therapeutics in a report on Monday, January 8th. They set an “overweight” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Vera Therapeutics from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, November 30th. Finally, Oppenheimer assumed coverage on shares of Vera Therapeutics in a report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $32.29.

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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.