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

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price reached a new 52-week low on Tuesday . The company traded as low as $22.34 and last traded at $24.02, with a volume of 2705814 shares traded. The stock had previously closed at $26.63.

Analysts Set New Price Targets

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

Vera Therapeutics Stock Up 7.1 %

The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $30.30 and its 200-day simple moving average is $38.59. The company has a market capitalization of $1.50 billion, a PE ratio of -9.04 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.11. As a group, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity

In related news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the sale, the chief executive officer now directly owns 143,603 shares of the company’s stock, valued at $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Huntington National Bank purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at approximately $26,000. AlphaQuest LLC purchased a new stake in Vera Therapeutics during the fourth quarter worth $34,000. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the fourth quarter valued at $56,000. KBC Group NV increased its holdings in Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after buying an additional 1,387 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Vera Therapeutics by 16.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after acquiring an additional 639 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

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.