Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 44.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,573 shares of the company's stock after acquiring an additional 52,573 shares during the quarter. Point72 Asset Management L.P. owned 0.31% of Vera Therapeutics worth $7,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VERA. Samlyn Capital LLC boosted its position in Vera Therapeutics by 90.8% during the second quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company's stock worth $44,571,000 after purchasing an additional 586,410 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of Vera Therapeutics by 130.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company's stock worth $36,387,000 after buying an additional 569,590 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Vera Therapeutics in the 2nd quarter worth about $14,015,000. Logos Global Management LP grew its stake in Vera Therapeutics by 65.2% in the 2nd quarter. Logos Global Management LP now owns 950,000 shares of the company's stock valued at $34,371,000 after acquiring an additional 375,000 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in Vera Therapeutics during the 2nd quarter valued at about $10,492,000. Institutional investors and hedge funds own 99.21% of the company's stock.

Insider Activity at Vera Therapeutics

In related news, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction 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 transaction, the director now owns 131,553 shares in the company, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marshall Fordyce sold 19,375 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $40.39, for a total value of $782,556.25. Following the sale, the chief executive officer now owns 307,972 shares of the company's stock, valued at $12,438,989.08. This represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,927 shares of company stock worth $3,800,796. 21.70% of the stock is owned by company insiders.

Vera Therapeutics Trading Up 0.7 %

Shares of NASDAQ:VERA traded up $0.35 during midday trading on Friday, reaching $48.46. The company's stock had a trading volume of 324,221 shares, compared to its average volume of 546,159. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -18.57 and a beta of 1.08. The business has a 50 day moving average price of $44.61 and a 200 day moving average price of $40.05. Vera Therapeutics, Inc. has a 1 year low of $13.09 and a 1 year high of $51.61. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Research analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank started coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Guggenheim raised their price target on Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company initiated coverage on Vera Therapeutics in a research note on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective on the stock. One research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price 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.