Vera Therapeutics (NASDAQ:VERA) Shares Gap Up – Here’s What Happened

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) gapped up before the market opened on Tuesday . The stock had previously closed at $34.84, but opened at $36.88. Vera Therapeutics shares last traded at $35.09, with a volume of 141,886 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on VERA. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a report on Tuesday. They set a “buy” rating and a $58.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price objective for the company. Guggenheim boosted their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Scotiabank initiated coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Vera Therapeutics currently has an average rating of “Buy” and a consensus price target of $67.50.

Vera Therapeutics Stock Performance

The business’s 50-day moving average price is $42.38 and its 200-day moving average price is $40.92. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The stock has a market cap of $2.25 billion, a P/E ratio of -13.61 and a beta of 1.15.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). As a group, sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total transaction of $821,450.00. Following the transaction, the chief executive officer now owns 85,942 shares in the company, valued at approximately $4,034,117.48. The trade was a 16.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Vera Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares in the last quarter. KBC Group NV raised its position in shares of Vera Therapeutics by 127.2% during the 4th 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. Ensign Peak Advisors Inc raised its position in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after buying an additional 1,400 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Vera Therapeutics by 19.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after buying an additional 2,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Vera Therapeutics by 27.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,427 shares of the company’s stock valued at $568,000 after buying an additional 2,882 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

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.