Vera Therapeutics (NASDAQ:VERA) Shares Gap Up – Time to Buy?

Vera Therapeutics, Inc. (NASDAQ:VERA)’s stock price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VERA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research report on Tuesday, October 1st. Scotiabank initiated coverage on shares of Vera Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price objective for the company. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $52.67.

Vera Therapeutics Stock Up 14.1 %

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 company has a 50 day moving average of $40.18 and a two-hundred day moving average of $38.94.

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

Insiders Place Their Bets

In other news, Director Beth C. Seidenberg sold 1,177 shares of the business’s 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 completion of the sale, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the transaction, the director now directly owns 160,376 shares of the company’s stock, valued at approximately $6,737,395.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total value of $585,937.50. Following the completion of the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,398 shares of company stock worth $3,655,713. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC purchased a new stake in shares of Vera Therapeutics in the 1st quarter valued at approximately $248,000. FORA Capital LLC acquired a new stake in Vera Therapeutics during the 1st quarter worth approximately $692,000. Jennison Associates LLC purchased a new stake in shares of Vera Therapeutics during the first quarter worth approximately $3,231,000. SG Americas Securities LLC increased its stake in Vera Therapeutics by 54.9% in the 1st quarter. SG Americas Securities LLC now owns 11,941 shares of the company’s stock valued at $515,000 after buying an additional 4,232 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Vera Therapeutics by 27.7% in the 1st quarter. Swiss National Bank now owns 62,200 shares of the company’s stock worth $2,682,000 after acquiring an additional 13,500 shares during the period. 99.21% of the stock is currently owned by institutional investors and hedge funds.

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.