Vera Therapeutics (NASDAQ:VERA) CEO Sells $684,500.00 in Stock

Vera Therapeutics, Inc. (NASDAQ:VERA) CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total value of $684,500.00. Following the transaction, the chief executive officer owned 235,244 shares in the company, valued at $8,704,028. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marshall Fordyce also recently made the following trade(s):

• On Wednesday, September 2nd, Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock. The shares were sold at an average price of $35.12, for a total value of $649,720.00.
• On Tuesday, July 7th, Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock. The shares were sold at an average price of $42.30, for a total value of $1,956,375.00.
• On Tuesday, June 23rd, Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock. The stock was sold at an average price of $37.93, for a total value of $701,705.00.

Vera Therapeutics Price Performance

Shares of NASDAQ:VERA traded up $2.46 during midday trading on Thursday, reaching $34.23. 3,881,280 shares of the company’s stock traded hands, compared to its average volume of 1,596,529. Vera Therapeutics, Inc. has a 1 year low of $23.05 and a 1 year high of $56.05. The company has a market cap of $2.47 billion, a P/E ratio of -5.84 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.92 and a current ratio of 10.92. The company has a fifty day simple moving average of $34.59 and a two-hundred day simple moving average of $36.96.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.58) by $0.06. During the same quarter in the previous year, the business posted ($1.20) earnings per share. Equities analysts predict that Vera Therapeutics, Inc. will post -6.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

Large investors have recently modified their holdings of the business. Eversept Partners LP raised its position in shares of Vera Therapeutics by 9.4% in the fourth quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock valued at $155,581,000 after buying an additional 264,468 shares during the last quarter. Geode Capital Management LLC boosted its position in Vera Therapeutics by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 1,444,925 shares of the company’s stock worth $73,185,000 after acquiring an additional 123,350 shares during the last quarter. Armistice Capital LLC boosted its position in Vera Therapeutics by 22.0% during the fourth quarter. Armistice Capital LLC now owns 653,796 shares of the company’s stock worth $33,108,000 after acquiring an additional 117,796 shares during the last quarter. First Turn Management LLC grew its stake in Vera Therapeutics by 69.7% during the 4th quarter. First Turn Management LLC now owns 601,774 shares of the company’s stock valued at $30,474,000 after acquiring an additional 247,245 shares in the last quarter. Finally, Elmind Capital LP purchased a new stake in Vera Therapeutics during the 4th quarter valued at about $24,434,000. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on VERA shares. The Goldman Sachs Group reissued a “buy” rating and set a $90.00 target price on shares of Vera Therapeutics in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Needham & Company LLC set a $125.00 price objective on Vera Therapeutics in a report on Wednesday, July 8th. Wedbush reiterated a “neutral” rating and set a $34.00 price objective on shares of Vera Therapeutics in a research note on Monday, August 17th. Finally, Bank of America increased their target price on Vera Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Vera Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $80.15.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera’s leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.