Vera Therapeutics (NASDAQ:VERA) Trading Down 5.2% – What’s Next?

Vera Therapeutics, Inc. (NASDAQ:VERA) shares dropped 5.2% during trading on Monday . The stock traded as low as $21.78 and last traded at $21.52. Approximately 275,157 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 923,959 shares. The stock had previously closed at $22.70.

Wall Street Analysts Forecast Growth

VERA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Cantor Fitzgerald decreased their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Wedbush cut their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and set a $85.00 price objective (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Finally, Guggenheim reissued a “buy” rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Vera Therapeutics has a consensus rating of “Buy” and an average target price of $65.00.

Vera Therapeutics Price Performance

The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -8.45 and a beta of 1.13. The stock’s 50-day simple moving average is $22.40 and its 200 day simple moving average is $31.39.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period last year, the firm earned ($0.56) EPS. On average, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

Several hedge funds have recently bought and sold shares of VERA. Huntington National Bank purchased a new stake in shares of Vera Therapeutics in the fourth quarter valued at $26,000. AlphaQuest LLC acquired a new position in Vera Therapeutics in the 4th quarter valued at about $34,000. GF Fund Management CO. LTD. acquired a new stake in shares of Vera Therapeutics during the 4th quarter worth about $56,000. Quarry LP boosted its stake in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company’s stock worth $60,000 after purchasing an additional 500 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after buying an additional 1,387 shares in the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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 III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.