Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by State Street Corp

State Street Corp cut its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 15.4% during the third quarter, according to the company in its most recent Form 13F 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 owned approximately 3.33% of Vera Therapeutics worth $80,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 buying an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Vera Therapeutics during the 2nd quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vera Therapeutics in the second quarter worth $163,000. Quarry LP acquired a new stake in shares of Vera Therapeutics during the second quarter worth $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vera Therapeutics by 30.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company's stock valued at $272,000 after buying an additional 1,737 shares during the last quarter. Institutional investors own 99.21% of the company's stock.

Vera Therapeutics Stock Down 0.1 %

Shares of VERA traded down $0.05 during mid-day trading on Tuesday, hitting $43.91. 545,567 shares of the company's stock were exchanged, compared to its average volume of 873,052. The stock's 50-day moving average is $45.19 and its 200-day moving average is $40.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. Vera Therapeutics, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $51.61. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -16.82 and a beta of 1.08.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). On average, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on VERA shares. Wedbush lifted their price objective 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Tuesday, October 1st. Evercore ISI upgraded Vera Therapeutics to a "strong-buy" rating in a report on Monday, September 16th. Scotiabank began coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Vera Therapeutics in a report on Thursday, November 21st. They issued an "overweight" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $59.22.

Insider Activity at Vera Therapeutics

In related news, Director Beth C. Seidenberg sold 1,177 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares of the company's stock, valued at $6,737,395.76. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marshall Fordyce sold 17,500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $46.94, for a total transaction of $821,450.00. Following the completion of the transaction, the chief executive officer now owns 85,942 shares of the company's stock, valued at $4,034,117.48. This represents a 16.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,802 shares of company stock valued at $4,036,308 over the last three months. 21.70% of the stock is owned by corporate insiders.

Vera Therapeutics Company 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.