Pier Capital LLC Invests $4.57 Million in Vera Therapeutics, Inc. (NASDAQ:VERA)

Pier Capital LLC bought a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 103,463 shares of the company's stock, valued at approximately $4,573,000. Pier Capital LLC owned approximately 0.19% of Vera Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock valued at $86,000 after purchasing an additional 350 shares during the last quarter. Arizona State Retirement System increased 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 buying an additional 1,250 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company's stock worth $425,000 after buying an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Vera Therapeutics by 30.0% during 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 boosted its stake in shares of Vera Therapeutics by 19.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company's stock worth $610,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Stock Performance

VERA stock traded up $0.35 during mid-day trading on Friday, hitting $48.46. 324,221 shares of the company were exchanged, compared to its average volume of 546,159. Vera Therapeutics, Inc. has a 1-year low of $13.09 and a 1-year high of $51.61. The business has a 50 day simple moving average of $44.61 and a 200-day simple moving average of $40.04. 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 issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). Equities analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Vera Therapeutics

In related news, Director Beth C. Seidenberg sold 15,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the sale, the director now directly owns 131,553 shares in the company, valued at approximately $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marshall Fordyce sold 15,625 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,927 shares of company stock worth $3,800,796. Corporate insiders own 21.70% of the company's stock.

Analysts Set New Price Targets

VERA has been the topic of several analyst reports. Guggenheim upped their target price on Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Scotiabank assumed coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price objective for the company. Wedbush raised their target price on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Evercore ISI raised shares of Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. One investment 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. Based on data from MarketBeat.com, 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.