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

Vera Therapeutics, Inc. (NASDAQ:VERA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $25.81 and last traded at $25.99, with a volume of 458568 shares traded. The stock had previously closed at $26.95.

Wall Street Analysts Forecast Growth

VERA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Guggenheim lifted their target price on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target for the company. Finally, Wolfe Research assumed coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective on the stock. One investment 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of $64.67.

Vera Therapeutics Price Performance

The business has a fifty day moving average of $31.35 and a 200 day moving average of $39.13. 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 cap of $1.65 billion, a P/E ratio of -9.92 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. On average, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Marshall Fordyce sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total transaction of $730,450.00. Following the transaction, the chief executive officer now directly owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VERA. Huntington National Bank bought a new position in Vera Therapeutics during the 4th quarter worth $26,000. AlphaQuest LLC bought a new stake in Vera Therapeutics during the fourth quarter worth about $34,000. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the fourth quarter worth about $56,000. KBC Group NV increased its holdings in Vera Therapeutics by 127.2% in the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after buying an additional 1,387 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after buying an additional 639 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.