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

Vera Therapeutics, Inc. (NASDAQ:VERA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $25.81 and last traded at $25.99, with a volume of 458568 shares traded. The stock had previously closed at $26.95.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Guggenheim lifted their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 4th. Finally, Wolfe Research initiated coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Vera Therapeutics currently has an average rating of “Buy” and an average target price of $64.67.

Vera Therapeutics Stock Performance

The company has a fifty day moving average price of $31.35 and a two-hundred day moving average price of $39.13. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -9.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.11. As a group, equities research analysts expect 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 company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now directly owns 143,603 shares in the company, valued at $5,993,989.22. This represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Vera Therapeutics in the third quarter worth about $475,000. Charles Schwab Investment Management Inc. lifted its position in shares of Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after purchasing an additional 10,717 shares in the last quarter. Algert Global LLC raised its position in shares of Vera Therapeutics by 34.3% during the third quarter. Algert Global LLC now owns 23,164 shares of the company’s stock worth $1,024,000 after acquiring an additional 5,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Vera Therapeutics by 11.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company’s stock valued at $2,722,000 after purchasing an additional 6,494 shares during the period. Finally, Verition Fund Management LLC bought a new position in Vera Therapeutics in the third quarter valued at approximately $1,910,000. Institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Company Profile

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.