Vera Therapeutics (NASDAQ:VERA) Reaches New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

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

Vera Therapeutics Trading Down 9.8 %

The firm has a market capitalization of $1.53 billion, a PE ratio of -9.20 and a beta of 1.17. 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 firm has a 50 day simple moving average of $30.74 and a 200 day simple moving average of $38.80.

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

Insider Buying and Selling

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction on Wednesday, January 8th. The stock was 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 of the company’s stock, valued at $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Therapeutics

Several institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Vera Therapeutics during the third quarter valued at approximately $475,000. Charles Schwab Investment Management Inc. grew its position in shares of Vera Therapeutics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock valued at $15,992,000 after acquiring an additional 10,717 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Vera Therapeutics by 11.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock worth $2,722,000 after purchasing an additional 6,494 shares in the last quarter. Verition Fund Management LLC bought a new position in Vera Therapeutics in the 3rd quarter worth $1,910,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Vera Therapeutics by 109.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,407 shares of the company’s stock worth $416,000 after purchasing an additional 4,914 shares during the period. 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.