MPM Bioimpact LLC Grows Position in Vera Therapeutics, Inc. $VERA

Key Points

• MPM Bioimpact LLC increased its stake in Vera Therapeutics by 61.3% in Q1, now holding 415,719 shares worth approximately $9.99 million.
• Insider trading activity includes Director Patrick G. Enright purchasing 209,393 shares at an average price of $20.87, raising his total ownership to 3.57 million shares.
• Analysts have mixed opinions on Vera Therapeutics, with HC Wainwright setting a new target price of $85.00, while Wedbush lowered its price target to $26.00.

MPM Bioimpact LLC lifted its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 61.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 415,719 shares of the company's stock after acquiring an additional 157,931 shares during the period. Vera Therapeutics accounts for approximately 1.7% of MPM Bioimpact LLC's portfolio, making the stock its 27th biggest holding. MPM Bioimpact LLC owned 0.65% of Vera Therapeutics worth $9,986,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VERA. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the 4th quarter valued at $56,000. Quarry LP boosted its position in Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares during the period. AlphaQuest LLC raised its stake in shares of Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock worth $96,000 after buying an additional 3,213 shares in the last quarter. GAMMA Investing LLC raised its position in 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vera Therapeutics by 19.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock valued at $229,000 after purchasing an additional 1,572 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vera Therapeutics news, Director Patrick G. Enright purchased 209,393 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average price of $20.87 per share, with a total value of $4,370,031.91. Following the transaction, the director owned 3,569,522 shares in the company, valued at $74,495,924.14. The trade was a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Wedbush reduced their price target on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Vera Therapeutics has an average rating of "Moderate Buy" and an average price target of $63.00.

Vera Therapeutics Price Performance

VERA stock opened at $21.64 on Tuesday. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The stock has a market capitalization of $1.38 billion, a PE 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. The company's 50-day moving average is $22.19 and its 200-day moving average is $23.48.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same quarter last year, the company earned ($0.62) EPS. Equities research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

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.

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