Vera Therapeutics (NASDAQ:VERA) Sets New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Guggenheim boosted their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group initiated coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. Finally, Wolfe Research initiated coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 target price on the stock. One research 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. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of “Buy” and an average target price of $64.67.

Vera Therapeutics Stock Performance

The company has a market cap of $1.50 billion, a price-to-earnings ratio of -9.04 and a beta of 1.17. The firm’s 50 day simple moving average is $30.30 and its 200-day simple moving average is $38.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. On average, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Transactions at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction that occurred 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 approximately $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERA. Huntington National Bank purchased a new position in shares of Vera Therapeutics during the 4th quarter worth $26,000. AlphaQuest LLC acquired a new stake in Vera Therapeutics during the fourth quarter worth about $34,000. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the fourth quarter worth about $56,000. KBC Group NV raised its stake in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock worth $105,000 after purchasing an additional 1,387 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after purchasing an additional 639 shares during the last quarter. Institutional investors and hedge funds 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.