Vera Therapeutics (NASDAQ:VERA) CEO Marshall Fordyce Sells 18,500 Shares of Stock

Vera Therapeutics, Inc. (NASDAQ:VERA) CEO Marshall Fordyce sold 18,500 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $37.00, for a total value of $684,500.00. Following the completion of the transaction, the chief executive officer owned 235,244 shares in the company, valued at approximately $8,704,028. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marshall Fordyce also recently made the following trade(s):

• On Wednesday, September 2nd, Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock. The shares were sold at an average price of $35.12, for a total transaction of $649,720.00.
• On Tuesday, July 7th, Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock. The stock was sold at an average price of $42.30, for a total transaction of $1,956,375.00.
• On Tuesday, June 23rd, Marshall Fordyce sold 18,500 shares of Vera Therapeutics stock. The shares were sold at an average price of $37.93, for a total transaction of $701,705.00.

Vera Therapeutics Stock Up 7.9%

Vera Therapeutics stock opened at $34.27 on Friday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -5.85 and a beta of 0.96. The firm’s fifty day moving average price is $34.43 and its two-hundred day moving average price is $36.91. Vera Therapeutics, Inc. has a 1-year low of $23.05 and a 1-year high of $56.05. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.18.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Monday, August 10th. The company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.06. During the same quarter last year, the business posted ($1.20) earnings per share. On average, equities research analysts predict that Vera Therapeutics, Inc. will post -6.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Eversept Partners LP raised its stake in shares of Vera Therapeutics by 9.4% during the 4th quarter. Eversept Partners LP now owns 3,072,304 shares of the company’s stock worth $155,581,000 after purchasing an additional 264,468 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Vera Therapeutics by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 1,444,925 shares of the company’s stock worth $73,185,000 after buying an additional 123,350 shares during the last quarter. Armistice Capital LLC grew its position in Vera Therapeutics by 22.0% during the fourth quarter. Armistice Capital LLC now owns 653,796 shares of the company’s stock valued at $33,108,000 after buying an additional 117,796 shares during the period. First Turn Management LLC grew its position in Vera Therapeutics by 69.7% during the fourth quarter. First Turn Management LLC now owns 601,774 shares of the company’s stock valued at $30,474,000 after buying an additional 247,245 shares during the period. Finally, Braidwell LP increased its holdings in Vera Therapeutics by 7.8% during the second quarter. Braidwell LP now owns 564,724 shares of the company’s stock worth $24,232,000 after buying an additional 40,900 shares during the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics News Roundup

Here are the key news stories impacting Vera Therapeutics this week:

• Positive Sentiment: Phase 3 success supports approval hopes: Vera said TRUTAKNA met all primary and secondary endpoints in the ORIGIN 3 trial. The results showed sustained kidney protection over two years and a reduction in the decline of kidney function, strengthening the case for full approval in IgAN. Vera Therapeutics says TRUTAKNA met all Phase III endpoints
• Positive Sentiment: Commercial opportunity is improving: The favorable ORIGIN 3 data could position TRUTAKNA for broader use in IgAN and intensify competition with other kidney-disease treatments, including products developed by Otsuka. Investors viewed the durable efficacy and kidney-function benefits as important differentiators. Vera’s strong Phase 3 IgAN data intensify kidney disease rivalry
• Neutral Sentiment: Investors remain focused on execution: Positive trial results have increased expectations for regulatory approval and eventual commercialization, but some commentary remains cautious about approval timing, launch execution and competition. Vera Therapeutics: Why I’m sticking with Hold despite positive TRUTAKNA data
• Negative Sentiment: CEO reduced his holdings: CEO Marshall Fordyce sold 18,500 shares for approximately $684,500, reducing his ownership by 7.29%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which limits its usefulness as a signal about management’s current outlook, but insider selling may still weigh modestly on sentiment. Vera Therapeutics CEO Form 4 filing

Wall Street Analysts Forecast Growth

VERA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, September 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $90.00 price target on shares of Vera Therapeutics in a report on Tuesday, June 2nd. Guggenheim increased their price target on Vera Therapeutics from $56.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Needham & Company LLC set a $125.00 price objective on Vera Therapeutics in a research note on Wednesday, July 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Vera Therapeutics in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.15.

About Vera Therapeutics

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company’s research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera’s leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.