State Street Corp Trims Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

State Street Corp lowered its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 15.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,823,807 shares of the company’s stock after selling 331,746 shares during the quarter. State Street Corp’s holdings in Vera Therapeutics were worth $80,612,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of Vera Therapeutics by 28.5% during the 2nd quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock valued at $5,347,000 after purchasing an additional 32,800 shares in the last quarter. First Turn Management LLC boosted its position in Vera Therapeutics by 53.3% during the 3rd quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock valued at $14,431,000 after acquiring an additional 113,550 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Vera Therapeutics during the 2nd quarter worth approximately $652,000. Victory Capital Management Inc. raised its position in shares of Vera Therapeutics by 202.4% in the 2nd quarter. Victory Capital Management Inc. now owns 33,707 shares of the company’s stock worth $1,220,000 after acquiring an additional 22,560 shares in the last quarter. Finally, Nicholas Investment Partners LP bought a new position in shares of Vera Therapeutics in the 2nd quarter worth approximately $2,139,000. 99.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $38.24, for a total transaction of $597,500.00. Following the completion of the sale, the chief executive officer now owns 307,972 shares of the company’s stock, valued at $11,776,849.28. The trade was a 4.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Beth C. Seidenberg sold 1,177 shares of the firm’s 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 in the company, valued at approximately $6,737,395.76. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,802 shares of company stock worth $4,036,308. Insiders own 21.70% of the company’s stock.

Vera Therapeutics Trading Down 0.2 %

Shares of NASDAQ:VERA opened at $43.96 on Tuesday. Vera Therapeutics, Inc. has a 1 year low of $14.20 and a 1 year high of $51.61. The stock’s fifty day moving average price is $45.08 and its 200-day moving average price is $40.41. The company has a market cap of $2.78 billion, a P/E ratio of -16.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). Sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

VERA has been the topic of several recent research reports. Scotiabank assumed coverage on Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. Wedbush upped their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Guggenheim increased their price target on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Evercore ISI raised shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. One investment 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, Vera Therapeutics presently has an average rating of “Buy” and an average price target of $59.22.

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.