Russell Investments Group Ltd. Purchases 127,646 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Vera Therapeutics, acquiring an additional 127,646 shares to reach a total of 152,918 shares, worth approximately $3.67 million.
• Institutional investors now hold a remarkable 99.21% of Vera Therapeutics' stock, indicating strong institutional confidence in the company.
• Vera Therapeutics' recent earnings report showed a loss of $1.20 earnings per share, falling short of the consensus estimate of ($0.82).

Russell Investments Group Ltd. raised its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 505.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,918 shares of the company's stock after purchasing an additional 127,646 shares during the period. Russell Investments Group Ltd. owned approximately 0.24% of Vera Therapeutics worth $3,673,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Vera Therapeutics during the 4th quarter valued at about $56,000. GAMMA Investing LLC lifted its position in Vera Therapeutics by 1,779.1% in the 1st quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock worth $199,000 after buying an additional 7,846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $229,000 after buying an additional 1,572 shares in the last quarter. Knott David M Jr purchased a new stake in Vera Therapeutics in the first quarter worth approximately $240,000. Finally, XTX Topco Ltd bought a new position in Vera Therapeutics during the first quarter valued at approximately $252,000. Institutional investors own 99.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VERA shares. Cantor Fitzgerald cut their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Wedbush decreased their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Vera Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Insiders Place Their Bets

In other Vera Therapeutics news, Director Patrick G. Enright acquired 40,607 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were purchased at an average cost of $22.35 per share, for a total transaction of $907,566.45. Following the transaction, the director owned 3,596,593 shares in the company, valued at $80,383,853.55. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.30% of the company's stock.

Vera Therapeutics Price Performance

VERA stock opened at $22.57 on Friday. The firm's 50-day moving average price is $22.11 and its two-hundred day moving average price is $24.06. Vera Therapeutics, Inc. has a 12-month low of $18.53 and a 12-month high of $51.61. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.30 and a beta of 1.17. The company has a current ratio of 17.03, a quick ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same period in the prior year, the firm posted ($0.62) EPS. As a group, equities analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current 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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