Marshall Fordyce Sells 18,500 Shares of Vera Therapeutics (NASDAQ:VERA) Stock

Key Points

• CEO Marshall Fordyce sold 18,500 Vera Therapeutics shares at an average price of $37, generating $684,500. The Rule 10b5-1 transaction reduced his stake by 7.29%, leaving him with 235,244 shares.
• Vera shares recently traded at $34.23, with a $2.47 billion market capitalization and a 52-week range of $23.05 to $56.05. The company reported quarterly EPS of negative $1.52, slightly better than analysts’ expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $80.15; institutional investors own 99.21% of the stock.

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $37.00, for a total value of $684,500.00. Following the completion of the sale, the chief executive officer owned 235,244 shares of the company's stock, valued at approximately $8,704,028. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock was 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 transaction of $1,956,375.00.
• On Tuesday, June 23rd, Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock. The shares were sold at an average price of $37.93, for a total transaction of $701,705.00.

Vera Therapeutics Stock Performance

VERA stock traded up $2.46 during trading on Thursday, reaching $34.23. The company had a trading volume of 3,881,280 shares, compared to its average volume of 1,596,529. The firm has a 50-day simple moving average of $34.59 and a 200-day simple moving average of $36.96. The company has a market cap of $2.47 billion, a price-to-earnings 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. Vera Therapeutics, Inc. has a twelve month low of $23.05 and a twelve month high of $56.05.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $0.06. During the same quarter in the previous year, the company posted ($1.20) EPS. As a group, sell-side analysts expect that Vera Therapeutics, Inc. will post -6.44 earnings per share for the current year.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. E. Ohman J or Asset Management AB boosted its holdings in Vera Therapeutics by 99.5% during the second quarter. E. Ohman J or Asset Management AB now owns 85,777 shares of the company's stock worth $3,681,000 after buying an additional 42,787 shares in the last quarter. Odyssean LLC grew its position in Vera Therapeutics by 192.6% during the second quarter. Odyssean LLC now owns 60,005 shares of the company's stock valued at $2,575,000 after buying an additional 39,495 shares during the period. Renaissance Technologies LLC increased its holdings in Vera Therapeutics by 136.5% in the first quarter. Renaissance Technologies LLC now owns 457,300 shares of the company's stock valued at $18,397,000 after buying an additional 263,900 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Vera Therapeutics in the fourth quarter worth about $12,785,000. Finally, Elmind Capital LP purchased a new stake in shares of Vera Therapeutics during the 4th quarter worth about $24,434,000. Institutional investors and hedge funds own 99.21% of the company's stock.

Analyst Upgrades and Downgrades

VERA has been the topic of a number of research reports. William Blair reissued an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Vera Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group reiterated a "buy" rating and issued a $90.00 target price on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Wedbush reiterated a "neutral" rating and issued a $34.00 price target on shares of Vera Therapeutics in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Vera Therapeutics has an average rating of "Moderate Buy" and a consensus 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.

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