Vera Therapeutics (NASDAQ:VERA) Sets New 1-Year Low – Time to Sell?

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) hit a new 52-week low during trading on Friday . The stock traded as low as $28.78 and last traded at $28.69, with a volume of 281860 shares traded. The stock had previously closed at $34.18.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VERA shares. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an “overweight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wedbush upped their price target on Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wolfe Research initiated coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $65.44.

Vera Therapeutics Price Performance

The company’s 50-day simple moving average is $38.91 and its 200-day simple moving average is $40.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

Insider Activity

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the transaction, the chief executive officer now owns 143,603 shares in the company, valued at $5,993,989.22. The trade was a 10.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 52,500 shares of company stock worth $2,305,625. 21.70% of the stock is currently owned by company insiders.

Institutional Trading of Vera Therapeutics

Several large investors have recently modified their holdings of VERA. Huntington National Bank purchased a new position in Vera Therapeutics in the fourth quarter valued at about $26,000. AlphaQuest LLC purchased a new position in shares of Vera Therapeutics during the 4th quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after buying an additional 350 shares in the last quarter. KBC Group NV increased its stake in shares of Vera Therapeutics by 127.2% in the fourth 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 last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Vera Therapeutics by 16.0% in the fourth quarter. Ameritas Investment Partners Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after acquiring an additional 639 shares in the last quarter. 99.21% of the stock is currently 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.