Vera Therapeutics (NASDAQ:VERA) Sees Unusually-High Trading Volume – What’s Next?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) saw unusually-high trading volume on Wednesday . Approximately 392,951 shares changed hands during trading, a decline of 56% from the previous session’s volume of 889,447 shares.The stock last traded at $41.51 and had previously closed at $42.97.

Analysts Set New Price Targets

VERA has been the subject of several analyst reports. Guggenheim raised their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Scotiabank assumed coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $53.56.

Vera Therapeutics Stock Down 0.6 %

The business’s fifty day moving average price is $40.43 and its 200-day moving average price is $38.92. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.06). As a group, research analysts anticipate that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $11,548,950. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,398 shares of company stock valued at $4,376,163. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 valued at $86,000 after purchasing an additional 350 shares during the period. Ameritas Investment Partners Inc. grew its stake in Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after acquiring an additional 688 shares in the last quarter. Arizona State Retirement System grew its stake in Vera Therapeutics by 14.4% during the second quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after acquiring an additional 1,250 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in Vera Therapeutics by 13.5% during the second quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vera Therapeutics by 30.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after acquiring an additional 1,737 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

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.