Vera Therapeutics (NASDAQ:VERA) Reaches New 52-Week Low – Time to Sell?

Vera Therapeutics, Inc. (NASDAQ:VERA) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $20.25 and last traded at $20.96, with a volume of 3375 shares traded. The stock had previously closed at $21.31.

Wall Street Analyst Weigh In

VERA has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target 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 upped their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wolfe Research initiated coverage on Vera Therapeutics in a report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $64.67.

Vera Therapeutics Price Performance

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -7.81 and a beta of 1.28. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $29.82 and a 200 day moving average price of $38.32.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. As a group, equities research analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In other Vera Therapeutics news, CEO Marshall Fordyce sold 17,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Huntington National Bank bought a new position in shares of Vera Therapeutics during the 4th quarter worth approximately $26,000. AlphaQuest LLC bought a new position in Vera Therapeutics during the fourth quarter worth about $34,000. GF Fund Management CO. LTD. acquired a new position in shares of Vera Therapeutics during the 4th quarter worth approximately $56,000. KBC Group NV raised its position 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 valued at $105,000 after purchasing an additional 1,387 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock worth $196,000 after acquiring an additional 639 shares during the last quarter. 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.