Vera Therapeutics (NASDAQ:VERA) Shares Gap Down - What's Next?

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 prior to trading 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 brokerages recently weighed in on VERA. Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday. Cantor Fitzgerald cut their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Wedbush decreased their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vera Therapeutics has an average rating of "Moderate Buy" and an average price target of $65.00.

Vera Therapeutics Stock Down 3.2%

The firm's 50 day simple moving average is $22.90 and its 200-day simple moving average is $25.50. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -6.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 27.68 and a quick ratio of 27.68.

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

Insider Buying and Selling at Vera Therapeutics

In related news, Director Patrick G. Enright acquired 40,607 shares of Vera Therapeutics stock in a transaction on Tuesday, June 24th. The stock was purchased at an average cost of $22.35 per share, with a total value of $907,566.45. Following the purchase, the director directly owned 3,596,593 shares in the company, valued at approximately $80,383,853.55. The trade was a 1.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.30% of the company's stock.

Hedge Funds Weigh In On Vera Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. J. Safra Sarasin Holding AG acquired a new position in Vera Therapeutics during the second quarter worth about $697,000. Platinum Investment Management Ltd. raised its stake in shares of Vera Therapeutics by 14.7% during the 2nd quarter. Platinum Investment Management Ltd. now owns 159,751 shares of the company's stock worth $3,764,000 after buying an additional 20,433 shares during the last quarter. GC Wealth Management RIA LLC purchased a new stake in shares of Vera Therapeutics in the 2nd quarter worth about $320,000. Perigon Wealth Management LLC acquired a new stake in Vera Therapeutics in the 2nd quarter valued at about $245,000. Finally, Fifth Third Bancorp purchased a new position in Vera Therapeutics during the 2nd quarter valued at about $102,000. Institutional investors and hedge funds 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.

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