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

Key Points

• Vera Therapeutics (NASDAQ:VERA) shares experienced a decline, opening at $20.31 after closing at $20.95, and last trading at $20.62 with a volume of 155,891 shares.
• Analysts have set varied price targets for the stock, with Cantor Fitzgerald reducing their target to $100.00 while HC Wainwright increased it to $85.00, indicating a mixed outlook among analysts.
• In the latest quarter, Vera Therapeutics reported a loss of ($0.81) per share, missing estimates, and insiders own approximately 16.30% of the company's stock, showcasing confidence amidst recent market movements.

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $20.95, but opened at $20.31. Vera Therapeutics shares last traded at $20.62, with a volume of 155,891 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald reduced their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Vera Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Vera Therapeutics Trading Down 1.8%

The stock has a market capitalization of $1.24 billion, a PE ratio of -5.44 and a beta of 1.17. The company's 50 day moving average price is $22.95 and its two-hundred day moving average price is $25.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 27.68.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same period last year, the business posted ($0.62) earnings per share. As a group, analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Activity at Vera Therapeutics

In other news, Director Patrick G. Enright purchased 209,393 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was acquired at an average price of $20.87 per share, with a total value of $4,370,031.91. Following the purchase, the director directly owned 3,569,522 shares in the company, valued at approximately $74,495,924.14. This represents a 6.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 16.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in Vera Therapeutics in the 4th quarter valued at about $56,000. Quarry LP boosted its position in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after purchasing an additional 500 shares during the period. AlphaQuest LLC raised its position in Vera Therapeutics by 404.7% in the first quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock valued at $96,000 after purchasing an additional 3,213 shares during the period. Fifth Third Bancorp purchased a new position in shares of Vera Therapeutics during the second quarter worth $102,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of 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 buying an additional 639 shares during the period. Hedge funds and other institutional investors 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.