Vera Therapeutics (NASDAQ:VERA) Trading Down 5.8% on Insider Selling

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price was down 5.8% on Friday following insider selling activity. The company traded as low as $43.03 and last traded at $43.03. Approximately 376,845 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 910,906 shares. The stock had previously closed at $45.66.

Specifically, CEO Marshall Fordyce sold 23,125 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $14,182,110.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VERA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price target on shares of Vera Therapeutics in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. One investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -21.19 and a beta of 0.99. The firm has a fifty day simple moving average of $38.40 and a two-hundred day simple moving average of $39.07.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC purchased a new position in shares of Vera Therapeutics in the first quarter worth about $227,027,000. Kynam Capital Management LP raised its stake in shares of Vera Therapeutics by 23.5% in the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock worth $56,142,000 after purchasing an additional 694,286 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Vera Therapeutics in the first quarter worth about $103,189,000. Vanguard Group Inc. raised its stake in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after purchasing an additional 515,106 shares during the last quarter. Finally, Samlyn Capital LLC raised its stake in shares of Vera Therapeutics by 90.8% in the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after purchasing an additional 586,410 shares during the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

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.