Vera Therapeutics (NASDAQ:VERA) Sees Unusually-High Trading Volume

Vera Therapeutics, Inc. (NASDAQ:VERA) shares saw unusually-high trading volume on Thursday . Approximately 980,711 shares were traded during trading, a decline of 21% from the previous session’s volume of 1,245,474 shares.The stock last traded at $43.49 and had previously closed at $41.62.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VERA shares. Cantor Fitzgerald began coverage on Vera Therapeutics in a report on Monday, January 8th. They issued an “overweight” rating for the company. Wedbush raised their price objective on shares of Vera Therapeutics from $21.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Guggenheim reiterated a “buy” rating and set a $56.00 target price on shares of Vera Therapeutics in a research report on Friday, April 5th. Oppenheimer assumed coverage on shares of Vera Therapeutics in a research report on Thursday, January 25th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Raymond James raised shares of Vera Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $29.00 to $37.00 in a research note on Friday, January 26th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $32.29.

Vera Therapeutics Stock Performance

The stock’s 50-day moving average price is $43.39 and its 200-day moving average price is $24.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.71 and a quick ratio of 7.71.

Insider Activity at Vera Therapeutics

In other news, Director Maha Katabi sold 81,009 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $44.20, for a total value of $3,580,597.80. Following the transaction, the director now directly owns 3,547,437 shares of the company’s stock, valued at approximately $156,796,715.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Maha Katabi sold 81,009 shares of Vera Therapeutics stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $44.20, for a total value of $3,580,597.80. Following the completion of the sale, the director now owns 3,547,437 shares in the company, valued at approximately $156,796,715.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean Grant sold 99,828 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $39.61, for a total transaction of $3,954,187.08. Following the transaction, the chief financial officer now owns 66,337 shares in the company, valued at approximately $2,627,608.57. The disclosure for this sale can be found here. Insiders have sold a total of 526,551 shares of company stock worth $21,533,345 over the last quarter. Company insiders own 22.60% of the company’s stock.

Institutional Trading of Vera Therapeutics

Several large investors have recently made changes to their positions in VERA. Barclays PLC grew its position in Vera Therapeutics by 964.6% in the 3rd quarter. Barclays PLC now owns 71,703 shares of the company’s stock valued at $983,000 after purchasing an additional 64,968 shares during the period. Swiss National Bank acquired a new position in shares of Vera Therapeutics during the third quarter valued at about $668,000. Rafferty Asset Management LLC bought a new stake in shares of Vera Therapeutics during the third quarter worth about $1,870,000. Wellington Management Group LLP acquired a new stake in shares of Vera Therapeutics in the 3rd quarter worth about $1,159,000. Finally, Citigroup Inc. lifted its position in Vera Therapeutics by 470.0% in the 3rd quarter. Citigroup Inc. now owns 57,390 shares of the company’s stock valued at $787,000 after acquiring an additional 47,322 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.