Vera Therapeutics (NASDAQ:VERA) Stock Price Down 5.2% - Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) shares 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 changed hands during 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 recently issued reports on VERA. JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 4th. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Wedbush cut their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reiterated a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Finally, Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $65.00.

Vera Therapeutics Trading Up 1.9%

The business's 50 day moving average is $22.44 and its two-hundred day moving average is $30.92. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.44 billion, a P/E ratio of -8.63 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VERA. Legato Capital Management LLC grew its holdings in Vera Therapeutics by 56.0% during the fourth quarter. Legato Capital Management LLC now owns 13,454 shares of the company's stock worth $569,000 after acquiring an additional 4,831 shares during the period. Rhumbline Advisers grew its holdings in Vera Therapeutics by 12.5% during the fourth quarter. Rhumbline Advisers now owns 58,589 shares of the company's stock worth $2,478,000 after acquiring an additional 6,515 shares during the period. New York State Common Retirement Fund grew its holdings in Vera Therapeutics by 19.5% during the fourth quarter. New York State Common Retirement Fund now owns 28,822 shares of the company's stock worth $1,219,000 after acquiring an additional 4,709 shares during the period. Bank of New York Mellon Corp grew its holdings in Vera Therapeutics by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 141,948 shares of the company's stock worth $6,003,000 after acquiring an additional 7,895 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Vera Therapeutics by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,665 shares of the company's stock worth $18,213,000 after acquiring an additional 68,860 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

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.