Vera Therapeutics (NASDAQ:VERA) Hits New 12-Month Low – Here’s Why

Vera Therapeutics, Inc. (NASDAQ:VERA) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.78 and last traded at $28.69, with a volume of 281860 shares trading hands. The stock had previously closed at $34.18.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research began coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 target price on the stock. Guggenheim lifted their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Finally, 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 report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $65.44.

Vera Therapeutics Trading Down 19.7 %

The stock has a fifty day moving average price of $38.91 and a two-hundred day moving average price of $40.89. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total transaction of $821,450.00. Following the sale, the chief executive officer now directly owns 85,942 shares in the company, valued at $4,034,117.48. The trade was a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 52,500 shares of company stock valued at $2,305,625 in the last quarter. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

Large investors have recently bought and sold shares of the stock. Eastern Bank bought a new position in shares of Vera Therapeutics in the third quarter valued at approximately $2,477,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Vera Therapeutics by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,545 shares of the company’s stock valued at $466,000 after purchasing an additional 4,118 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Vera Therapeutics during the 3rd quarter valued at $332,000. Finally, Chartwell Investment Partners LLC raised its stake in shares of Vera Therapeutics by 63.5% in the 3rd quarter. Chartwell Investment Partners LLC now owns 19,172 shares of the company’s stock worth $847,000 after buying an additional 7,447 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.