Vera Therapeutics (NASDAQ:VERA) Shares Gap Up – Should You Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $41.09, but opened at $49.90. Vera Therapeutics shares last traded at $46.33, with a volume of 548,549 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on VERA shares. JPMorgan Chase & Co. lifted their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Evercore ISI raised Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $52.67.

Vera Therapeutics Price Performance

The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $40.18 and its 200-day moving average is $38.94.

Vera Therapeutics (NASDAQ:VERA) last issued its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Equities research analysts predict that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 23,125 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $46.05, for a total value of $1,064,906.25. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $14,182,110.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marshall Fordyce sold 23,125 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $14,182,110.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the sale, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,398 shares of company stock valued at $3,655,713 in the last quarter. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Vera Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VERA. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after purchasing an additional 350 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Vera Therapeutics during the 2nd quarter worth $135,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after purchasing an additional 688 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vera Therapeutics during the 2nd quarter worth about $163,000. Finally, Cetera Advisors LLC acquired a new position in shares of Vera Therapeutics in the first quarter worth about $235,000. Institutional investors own 99.21% of the company’s stock.

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.