Verition Fund Management LLC Buys New Stake in Vera Therapeutics, Inc. (NASDAQ:VERA)

Verition Fund Management LLC bought a new position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 43,210 shares of the company's stock, valued at approximately $1,910,000. Verition Fund Management LLC owned about 0.08% of Vera Therapeutics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $86,000 after acquiring an additional 350 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in Vera Therapeutics in the second quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vera Therapeutics in the 2nd quarter worth approximately $163,000. Cetera Advisors LLC purchased a new stake in Vera Therapeutics during the 1st quarter valued at $235,000. Finally, Quarry LP bought a new position in shares of Vera Therapeutics during the 2nd quarter valued at $235,000. Institutional investors own 99.21% of the company's stock.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 19,375 shares of the business's stock in a transaction on Wednesday, October 23rd. The shares were 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 in the company, valued at $12,438,989.08. The trade was a 5.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now directly owns 160,376 shares of the company's stock, valued at $6,737,395.76. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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

Several brokerages recently commented on VERA. 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. JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Wedbush upped their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Guggenheim increased their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They set an "overweight" rating and a $70.00 target price for the company. One investment 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 company. According to data from MarketBeat.com, Vera Therapeutics presently has an average rating of "Buy" and an average target price of $59.22.

Vera Therapeutics Stock Performance

Vera Therapeutics stock traded up $0.35 during midday trading on Friday, hitting $48.46. The stock had a trading volume of 315,343 shares, compared to its average volume of 886,029. Vera Therapeutics, Inc. has a 52-week low of $13.09 and a 52-week high of $51.61. The company has a market capitalization of $3.07 billion, a PE ratio of -18.43 and a beta of 1.08. The firm's fifty day moving average is $44.51 and its two-hundred day moving average is $39.98. 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 announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). On average, research analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

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.