Vera Therapeutics (NASDAQ:VERA) Shares Gap Down – Should You Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA) gapped down prior to trading on Monday . The stock had previously closed at $26.63, but opened at $25.00. Vera Therapeutics shares last traded at $24.01, with a volume of 196,158 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VERA. Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price for the company. The Goldman Sachs Group started coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price for the company. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, March 4th. Finally, Guggenheim lifted their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One 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.com, the company has a consensus rating of “Buy” and an average target price of $64.67.

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’s fifty day moving average price is $30.93 and its 200 day moving average price is $38.88. The company has a market capitalization of $1.45 billion, a P/E ratio of -8.63 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. As a group, sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 21.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Vera Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in VERA. Huntington National Bank acquired a new position in shares of Vera Therapeutics during the 4th quarter worth $26,000. AlphaQuest LLC bought a new position in Vera Therapeutics in the fourth quarter valued at about $34,000. GF Fund Management CO. LTD. acquired a new position in Vera Therapeutics during the fourth quarter worth about $56,000. KBC Group NV lifted its holdings in shares of Vera Therapeutics by 127.2% in the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after purchasing an additional 639 shares in the last quarter. 99.21% of the stock is currently owned by 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.