Vera Therapeutics (NASDAQ:VERA) Shares Gap Down - Should You Sell?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $30.63, but opened at $21.27. Vera Therapeutics shares last traded at $21.71, with a volume of 4,726,784 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VERA. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday. HC Wainwright upped their price target on Vera Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday. Guggenheim raised their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Cantor Fitzgerald cut their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Wedbush decreased their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Vera Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $65.00.

Vera Therapeutics Stock Performance

The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock's fifty day simple moving average is $22.39 and its 200 day simple moving average is $31.76. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -8.04 and a beta of 1.13.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same period in the previous year, the firm posted ($0.56) earnings per share. As a group, analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank purchased a new stake in Vera Therapeutics in the fourth quarter valued at $26,000. AlphaQuest LLC purchased a new stake in Vera Therapeutics in the 4th quarter valued at about $34,000. GF Fund Management CO. LTD. acquired a new position in Vera Therapeutics in the fourth quarter valued at about $56,000. Quarry LP boosted its stake in Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after buying an additional 500 shares during the period. Finally, KBC Group NV increased its position in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after acquiring an additional 1,387 shares during the last quarter. 99.21% of the stock is currently 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 III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.

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