Verition Fund Management LLC Makes New $1.91 Million Investment in Vera Therapeutics, Inc. (NASDAQ:VERA)

Verition Fund Management LLC bought a new position in Vera Therapeutics, Inc. (NASDAQ:VERA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 43,210 shares of the company’s stock, valued at approximately $1,910,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Vera Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after buying an additional 350 shares during the last quarter. Arizona State Retirement System grew its stake in Vera Therapeutics by 14.4% in the 2nd quarter. Arizona State Retirement System now owns 9,907 shares of the company’s stock valued at $358,000 after purchasing an additional 1,250 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after purchasing an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vera Therapeutics by 30.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock worth $272,000 after buying an additional 1,737 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in Vera Therapeutics by 19.0% during the third quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company’s stock valued at $610,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Stock Down 2.7 %

Shares of NASDAQ:VERA opened at $48.11 on Friday. Vera Therapeutics, Inc. has a 1 year low of $13.09 and a 1 year high of $51.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The stock’s 50-day moving average is $44.46 and its 200 day moving average is $39.93. The company has a market cap of $3.05 billion, a PE ratio of -18.43 and a beta of 1.08.

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

Insider Transactions at Vera Therapeutics

In other news, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $48.03, for a total value of $720,450.00. Following the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. This represents a 10.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,927 shares of company stock valued at $3,800,796. Company insiders own 21.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on VERA shares. Wells Fargo & Company assumed coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price objective for the company. Guggenheim lifted their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wedbush upped their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Finally, Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $59.22.

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.