Vera Therapeutics (NASDAQ:VERA) Shares Down 5.9%

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares were down 5.9% during trading on Wednesday . The stock traded as low as $37.53 and last traded at $38.46. Approximately 329,301 shares traded hands during trading, a decline of 74% from the average daily volume of 1,251,044 shares. The stock had previously closed at $40.85.

Wall Street Analysts Forecast Growth

VERA has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and issued a $25.00 target price on shares of Vera Therapeutics in a research report on Wednesday, December 27th. Raymond James raised Vera Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $29.00 to $37.00 in a research note on Friday, January 26th. Oppenheimer assumed coverage on Vera Therapeutics in a report on Thursday, January 25th. They issued an "outperform" rating and a $26.00 price target on the stock. Wedbush upped their price target on Vera Therapeutics from $21.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, March 21st. Finally, Guggenheim upped their price target on Vera Therapeutics from $27.00 to $56.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $32.29.

Vera Therapeutics Price Performance

The business has a fifty day moving average price of $41.88 and a 200 day moving average price of $23.67. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -17.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.71 and a quick ratio of 7.71.

Insider Activity at Vera Therapeutics

In related news, Director Maha Katabi purchased 161,290 shares of the firm's stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $31.00 per share, with a total value of $4,999,990.00. Following the purchase, the director now directly owns 3,628,446 shares in the company, valued at $112,481,826. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vera Therapeutics news, major shareholder Commodore Capital Lp sold 1,050,000 shares of Vera Therapeutics stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $18.00, for a total value of $18,900,000.00. Following the completion of the transaction, the insider now directly owns 4,400,000 shares of the company's stock, valued at approximately $79,200,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maha Katabi acquired 161,290 shares of Vera Therapeutics stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average price of $31.00 per share, for a total transaction of $4,999,990.00. Following the transaction, the director now directly owns 3,628,446 shares in the company, valued at $112,481,826. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 1,471,009 shares of company stock valued at $36,250,598. Corporate insiders own 22.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Vera Therapeutics by 39.7% in the first quarter. FMR LLC now owns 5,796,259 shares of the company's stock worth $44,979,000 after buying an additional 1,647,613 shares in the last quarter. Commodore Capital LP raised its position in Vera Therapeutics by 93.0% during the second quarter. Commodore Capital LP now owns 5,450,000 shares of the company's stock valued at $87,472,000 after purchasing an additional 2,625,971 shares in the last quarter. Kynam Capital Management LP grew its stake in shares of Vera Therapeutics by 23.5% during the fourth quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company's stock valued at $56,142,000 after buying an additional 694,286 shares during the last quarter. BlackRock Inc. grew its stake in shares of Vera Therapeutics by 53.9% during the second quarter. BlackRock Inc. now owns 2,170,134 shares of the company's stock valued at $34,831,000 after buying an additional 759,864 shares during the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Vera Therapeutics by 1.6% during the second quarter. Citadel Advisors LLC now owns 2,122,851 shares of the company's stock valued at $28,892,000 after buying an additional 33,331 shares during the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

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 IIb clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis.