Bank of New York Mellon Corp Has $5.98 Million Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Bank of New York Mellon Corp grew its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,322 shares of the company’s stock after buying an additional 9,854 shares during the period. Bank of New York Mellon Corp owned 0.30% of Vera Therapeutics worth $5,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in Vera Therapeutics by 20.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after purchasing an additional 688 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Vera Therapeutics during the first quarter worth approximately $235,000. Capstone Investment Advisors LLC acquired a new position in shares of Vera Therapeutics in the first quarter valued at approximately $248,000. Virtu Financial LLC bought a new position in shares of Vera Therapeutics during the first quarter worth approximately $375,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Vera Therapeutics by 96.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,117 shares of the company’s stock valued at $436,000 after purchasing an additional 4,974 shares during the period. 99.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on VERA. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vera Therapeutics has an average rating of “Buy” and a consensus target price of $51.75.

Vera Therapeutics Stock Down 5.1 %

Shares of VERA opened at $35.66 on Friday. The firm has a 50 day simple moving average of $36.96 and a two-hundred day simple moving average of $39.37. The company has a market cap of $1.95 billion, a P/E ratio of -17.40 and a beta of 0.99. Vera Therapeutics, Inc. has a one year low of $9.24 and a one year high of $50.78. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Research analysts forecast that Vera Therapeutics, Inc. will post -2.59 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 14,471 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $39.76, for a total transaction of $575,366.96. Following the completion of the transaction, the chief executive officer now directly owns 322,667 shares in the company, valued at $12,829,239.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.70% of the stock is currently owned by insiders.

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.