American Century Companies Inc. Sells 51,490 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• American Century Companies Inc. reduced its stake in Vera Therapeutics, Inc. by 12% during Q1, selling 51,490 shares and holding 377,450 shares valued at approximately $9.06 million.
• Vera Therapeutics reported a loss of ($1.20) per share in its latest quarterly earnings, missing consensus estimates, and has a projected EPS of -2.89 for the current fiscal year.
• Institutional investors own 99.21% of Vera Therapeutics, with several hedge funds making significant investments during the fourth quarter, indicating strong market interest.

American Century Companies Inc. cut its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 377,450 shares of the company's stock after selling 51,490 shares during the quarter. American Century Companies Inc. owned approximately 0.59% of Vera Therapeutics worth $9,066,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth about $56,000. Hsbc Holdings PLC bought a new stake in shares of Vera Therapeutics during the fourth quarter valued at approximately $264,000. GAMMA Investing LLC raised its holdings in shares of Vera Therapeutics by 1,779.1% during the first quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock valued at $199,000 after buying an additional 7,846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vera Therapeutics by 19.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock worth $229,000 after buying an additional 1,572 shares during the period. Finally, Sandia Investment Management LP acquired a new stake in Vera Therapeutics in the 4th quarter valued at approximately $423,000. 99.21% of the stock is owned by institutional investors.

Insider Activity at Vera Therapeutics

In other news, Director Patrick G. Enright bought 209,393 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average cost of $20.87 per share, with a total value of $4,370,031.91. Following the completion of the transaction, the director directly owned 3,569,522 shares in the company, valued at $74,495,924.14. This represents a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.30% of the company's stock.

Vera Therapeutics Stock Down 2.9%

VERA traded down $0.65 on Friday, reaching $21.64. 2,121,800 shares of the company traded hands, compared to its average volume of 1,741,818. The stock's 50 day moving average price is $22.19 and its 200-day moving average price is $23.67. Vera Therapeutics, Inc. has a 52-week low of $18.53 and a 52-week high of $51.61. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -6.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same quarter in the previous year, the business posted ($0.62) EPS. On average, sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. JPMorgan Chase & Co. dropped their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Cantor Fitzgerald dropped their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, HC Wainwright restated a "buy" rating and set a $85.00 price target (up from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

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.