Raymond James Financial Inc. Makes New $2.95 Million Investment in Vera Therapeutics, Inc. (NASDAQ:VERA)

Raymond James Financial Inc. bought a new stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 69,724 shares of the company's stock, valued at approximately $2,948,000. Raymond James Financial Inc. owned about 0.11% of Vera Therapeutics as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC purchased a new position in Vera Therapeutics during the 3rd quarter worth $475,000. Charles Schwab Investment Management Inc. lifted its position in shares of Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company's stock valued at $15,992,000 after purchasing an additional 10,717 shares in the last quarter. Algert Global LLC lifted its position in shares of Vera Therapeutics by 34.3% during the third quarter. Algert Global LLC now owns 23,164 shares of the company's stock valued at $1,024,000 after purchasing an additional 5,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Vera Therapeutics by 11.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,574 shares of the company's stock worth $2,722,000 after purchasing an additional 6,494 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Vera Therapeutics in the 3rd quarter worth about $1,910,000. Institutional investors own 99.21% of the company's stock.

Insider Activity at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the transaction, the chief executive officer now directly owns 143,603 shares in the company, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.70% of the stock is currently owned by corporate insiders.

Vera Therapeutics Stock Performance

Shares of VERA stock traded up $1.57 on Wednesday, hitting $23.59. 816,471 shares of the stock were exchanged, compared to its average volume of 772,194. The firm's 50 day moving average is $30.30 and its two-hundred day moving average is $38.59. Vera Therapeutics, Inc. has a one year low of $21.45 and a one year high of $51.61. The firm has a market capitalization of $1.50 billion, a PE ratio of -9.04 and a beta of 1.17. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11. Sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of Vera Therapeutics in a research report on Tuesday, January 28th. They set a "buy" rating and a $58.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Wolfe Research initiated coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective on the stock. Finally, Guggenheim upped their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Vera Therapeutics has a consensus rating of "Buy" and an average target price of $64.67.

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.