Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 283.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,911 shares of the company's stock after acquiring an additional 22,843 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.06% of Vera Therapeutics worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of VERA. Cetera Advisors LLC bought a new position in shares of Vera Therapeutics in the 1st quarter worth about $235,000. William Marsh Rice University bought a new stake in Vera Therapeutics during the 2nd quarter valued at about $593,000. EFG Asset Management North America Corp. increased its stake in Vera Therapeutics by 204.0% during the 2nd quarter. EFG Asset Management North America Corp. now owns 31,444 shares of the company's stock valued at $1,137,000 after purchasing an additional 21,101 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Vera Therapeutics by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,322 shares of the company's stock valued at $5,981,000 after purchasing an additional 9,854 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in Vera Therapeutics during the 2nd quarter valued at about $273,000. 99.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 19,375 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $40.39, for a total transaction of $782,556.25. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at $12,438,989.08. The trade was a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $48.03, for a total transaction of $720,450.00. Following the transaction, the director now directly owns 131,553 shares of the company's stock, valued at approximately $6,318,490.59. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,302 shares of company stock valued at $3,214,858. 21.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Wells Fargo & Company assumed coverage on shares of Vera Therapeutics in a research note on Thursday, November 21st. They set an "overweight" rating and a $70.00 price objective for the company. Wedbush raised 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. Scotiabank initiated coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $60.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $59.22.

Vera Therapeutics Stock Down 2.9 %

Shares of NASDAQ:VERA traded down $1.35 during trading on Thursday, reaching $45.11. The stock had a trading volume of 452,490 shares, compared to its average volume of 877,830. Vera Therapeutics, Inc. has a one year low of $13.59 and a one year high of $51.61. The company has a market capitalization of $2.86 billion, a P/E ratio of -17.80 and a beta of 1.08. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $44.85 and its 200 day simple moving average is $40.24.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.21). As a group, research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal 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.