Vera Therapeutics (NASDAQ:VERA) Hits New 12-Month Low – Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $25.81 and last traded at $25.99, with a volume of 458568 shares traded. The stock had previously closed at $26.95.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Wolfe Research assumed coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. Guggenheim increased their price target on Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group began coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $64.67.

Vera Therapeutics Stock Up 0.4 %

The company has a market cap of $1.70 billion, a P/E ratio of -10.20 and a beta of 1.17. 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 stock has a fifty day moving average price of $31.06 and a two-hundred day moving average price of $38.95.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.11. On average, research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares in the company, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in Vera Therapeutics by 116.7% in the 4th quarter. SG Americas Securities LLC now owns 20,270 shares of the company’s stock valued at $857,000 after purchasing an additional 10,916 shares during the period. Lord Abbett & CO. LLC grew its position in Vera Therapeutics by 41.1% during the third quarter. Lord Abbett & CO. LLC now owns 426,014 shares of the company’s stock valued at $18,830,000 after buying an additional 124,197 shares during the period. Barclays PLC increased its holdings in Vera Therapeutics by 94.1% during the third quarter. Barclays PLC now owns 85,395 shares of the company’s stock worth $3,774,000 after buying an additional 41,394 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after buying an additional 10,717 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Vera Therapeutics by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,004,665 shares of the company’s stock valued at $44,415,000 after acquiring an additional 20,223 shares during the last quarter. 99.21% of the stock is owned by institutional investors.

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.