Vera Therapeutics (NASDAQ:VERA) Stock Price Down 8.3% – Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA) fell 8.3% during trading on Wednesday . The stock traded as low as $33.21 and last traded at $33.2410. 496,708 shares traded hands during trading, a decline of 69% from the average daily volume of 1,604,614 shares. The stock had previously closed at $36.26.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VERA. Wedbush reissued a “neutral” rating and set a $34.00 price target on shares of Vera Therapeutics in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Therapeutics in a report on Friday, July 17th. HC Wainwright dropped their price target on Vera Therapeutics from $125.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. William Blair restated an “outperform” rating on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC set a $125.00 target price on Vera Therapeutics in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.15.

Vera Therapeutics Trading Down 9.2%

The company has a market cap of $2.37 billion, a P/E ratio of -5.60 and a beta of 0.96. The firm’s 50 day moving average is $33.98 and its two-hundred day moving average is $36.81. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.18.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings data on Monday, August 10th. The company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.58) by $0.06. During the same quarter in the prior year, the business earned ($1.20) earnings per share. As a group, equities research analysts anticipate that Vera Therapeutics, Inc. will post -6.44 EPS for the current year.

Insider Buying and Selling

In other news, CEO Marshall Fordyce sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total transaction of $684,500.00. Following the completion of the sale, the chief executive officer owned 235,244 shares in the company, valued at $8,704,028. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 83,250 shares of company stock valued at $3,290,595 over the last ninety days. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several hedge funds have recently bought and sold shares of the business. Nykredit A S bought a new stake in Vera Therapeutics during the second quarter worth $97,000. Strs Ohio purchased a new stake in Vera Therapeutics in the 1st quarter valued at $249,000. NINE MASTS CAPITAL Ltd bought a new position in Vera Therapeutics during the 2nd quarter valued at $405,000. Arizona State Retirement System lifted its stake in Vera Therapeutics by 12.3% during the 2nd quarter. Arizona State Retirement System now owns 11,813 shares of the company’s stock valued at $507,000 after acquiring an additional 1,295 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Vera Therapeutics by 16.8% during the 4th quarter. ProShare Advisors LLC now owns 12,938 shares of the company’s stock worth $655,000 after acquiring an additional 1,864 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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.