Victory Capital Management Inc. Buys 4,546 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Victory Capital Management Inc. grew its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,253 shares of the company’s stock after purchasing an additional 4,546 shares during the period. Victory Capital Management Inc.’s holdings in Vera Therapeutics were worth $1,691,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Vera Therapeutics in the 1st quarter worth $103,189,000. Samlyn Capital LLC boosted its stake in shares of Vera Therapeutics by 90.8% during the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company’s stock worth $44,571,000 after purchasing an additional 586,410 shares during the period. First Light Asset Management LLC lifted its stake in Vera Therapeutics by 130.6% in the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company’s stock worth $36,387,000 after purchasing an additional 569,590 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Vera Therapeutics by 31.5% in the first quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock worth $92,653,000 after buying an additional 515,106 shares during the period. Finally, Artal Group S.A. bought a new stake in Vera Therapeutics during the 1st quarter valued at about $21,820,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Performance

NASDAQ:VERA opened at $48.31 on Monday. The stock has a market capitalization of $3.06 billion, a PE ratio of -18.51 and a beta of 1.03. The company has a fifty day moving average of $43.47 and a two-hundred day moving average of $39.51. Vera Therapeutics, Inc. has a fifty-two week low of $12.28 and a fifty-two week high of $51.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). As a group, research analysts forecast that Vera Therapeutics, Inc. will post -2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VERA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Guggenheim raised their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Scotiabank assumed coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday. They issued an “overweight” rating and a $70.00 target price on the stock. One 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 company’s stock. Based on data from MarketBeat.com, Vera Therapeutics currently has a consensus rating of “Buy” and an average price target of $59.22.

Insider Transactions at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 23,125 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at approximately $14,182,110.60. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction on 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 transaction, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,927 shares of company stock valued at $3,800,796. 21.70% of the stock is currently owned by corporate insiders.

Vera Therapeutics 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.