Vera Therapeutics (NASDAQ:VERA) Shares Down 6.8% on Insider Selling

Vera Therapeutics, Inc. (NASDAQ:VERAGet Free Report)’s share price dropped 6.8% during mid-day trading on Friday following insider selling activity. The company traded as low as $39.86 and last traded at $39.5550. 292,723 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,329,298 shares. The stock had previously closed at $42.45.

Specifically, CEO Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $42.30, for a total transaction of $1,956,375.00. Following the completion of the transaction, the chief executive officer directly owned 151,994 shares of the company’s stock, valued at $6,429,346.20. This trade represents a 23.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VERA shares. Bank of America upped their price objective on shares of Vera Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC set a $125.00 price target on Vera Therapeutics in a research report on Wednesday. Guggenheim upped their price target on Vera Therapeutics from $56.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush raised their price objective on Vera Therapeutics from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, HC Wainwright raised their price objective on Vera Therapeutics from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.58.

Check Out Our Latest Stock Analysis on Vera Therapeutics

Vera Therapeutics News Roundup

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

Vera Therapeutics Trading Down 7.4%

The firm has a 50 day simple moving average of $36.50 and a 200 day simple moving average of $41.10. The company has a current ratio of 13.64, a quick ratio of 13.64 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.82 billion, a PE ratio of -7.13 and a beta of 0.92.

Vera Therapeutics (NASDAQ:VERAGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.33) by ($0.36). During the same period last year, the company earned ($0.81) earnings per share. Equities analysts expect that Vera Therapeutics, Inc. will post -6.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Vera Therapeutics by 50.5% in the 4th quarter. GAMMA Investing LLC now owns 703 shares of the company’s stock worth $36,000 after buying an additional 236 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Vera Therapeutics during the 4th quarter valued at about $46,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Vera Therapeutics during the 4th quarter valued at about $71,000. Quantbot Technologies LP purchased a new stake in shares of Vera Therapeutics during the 2nd quarter valued at about $51,000. Finally, Sandia Investment Management LP bought a new stake in shares of Vera Therapeutics in the fourth quarter worth approximately $127,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

About Vera Therapeutics

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Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body’s own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.

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