Vera Therapeutics (NASDAQ:VERA) Stock Price Down 5.2% - Here's What Happened

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) fell 5.2% during mid-day trading on Monday . The stock traded as low as $21.78 and last traded at $21.52. 275,157 shares were traded during mid-day trading, a decline of 70% from the average session volume of 923,959 shares. The stock had previously closed at $22.70.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VERA. HC Wainwright reissued a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Wedbush reduced their price objective on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Cantor Fitzgerald dropped their target price on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has an average rating of "Buy" and an average price target of $65.00.

Vera Therapeutics Trading Down 3.1%

The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock has a 50-day moving average price of $22.40 and a two-hundred day moving average price of $31.39. The stock has a market cap of $1.40 billion, a PE ratio of -8.45 and a beta of 1.13.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results 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 quarter in the prior year, the company earned ($0.56) earnings per share. Sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

Several institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Vera Therapeutics by 94.1% during the third quarter. Barclays PLC now owns 85,395 shares of the company's stock worth $3,774,000 after purchasing an additional 41,394 shares during the last quarter. KBC Group NV increased its stake in Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after buying an additional 1,387 shares during the period. Legato Capital Management LLC lifted its holdings in Vera Therapeutics by 56.0% during the 4th quarter. Legato Capital Management LLC now owns 13,454 shares of the company's stock valued at $569,000 after buying an additional 4,831 shares in the last quarter. Rhumbline Advisers lifted its holdings in Vera Therapeutics by 12.5% during the 4th quarter. Rhumbline Advisers now owns 58,589 shares of the company's stock valued at $2,478,000 after buying an additional 6,515 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Vera Therapeutics by 19.5% in the 4th quarter. New York State Common Retirement Fund now owns 28,822 shares of the company's stock valued at $1,219,000 after buying an additional 4,709 shares during the period. 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.

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