Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Vera Therapeutics by 9.4% during the first quarter, owning approximately 252,164 shares valued at $6,057,000.
• Several other significant investors, including the California State Teachers Retirement System and Vanguard Group Inc., also increased their stakes in Vera Therapeutics in recent quarters, indicating strong institutional support.
• Vera Therapeutics stock has experienced significant price fluctuations, with a 12-month low of $18.53 and a high of $51.61, while its current market cap stands at approximately $1.34 billion.

TD Asset Management Inc boosted its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,164 shares of the company's stock after purchasing an additional 21,606 shares during the period. TD Asset Management Inc owned about 0.40% of Vera Therapeutics worth $6,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new stake in Vera Therapeutics during the fourth quarter worth about $431,000. Vanguard Group Inc. increased its stake in Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock valued at $124,737,000 after purchasing an additional 369,387 shares in the last quarter. Corebridge Financial Inc. boosted its position in Vera Therapeutics by 5.8% during the fourth quarter. Corebridge Financial Inc. now owns 22,047 shares of the company's stock worth $932,000 after purchasing an additional 1,210 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Vera Therapeutics by 71.6% in the fourth quarter. JPMorgan Chase & Co. now owns 221,485 shares of the company's stock valued at $9,367,000 after purchasing an additional 92,390 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Vera Therapeutics in the fourth quarter valued at $2,055,000. Hedge funds and other institutional investors own 99.21% of the company's stock.

Vera Therapeutics Trading Down 6.3%

Shares of VERA stock traded down $1.30 during mid-day trading on Wednesday, hitting $19.34. 1,112,113 shares of the company's stock were exchanged, compared to its average volume of 1,285,545. The company has a quick ratio of 27.68, a current ratio of 27.68 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -6.44 and a beta of 1.17. The stock has a 50-day simple moving average of $22.95 and a two-hundred day simple moving average of $25.38. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released 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 firm posted ($0.62) EPS. Equities analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Activity at Vera Therapeutics

In other news, Director Patrick G. Enright purchased 40,607 shares of the stock in a transaction on Tuesday, June 24th. The stock was purchased at an average price of $22.35 per share, with a total value of $907,566.45. Following the completion of the transaction, the director owned 3,596,593 shares in the company, valued at approximately $80,383,853.55. The trade was a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 16.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VERA has been the topic of a number of research reports. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday. HC Wainwright reiterated a "buy" rating and issued a $85.00 price target (up from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. Wedbush cut their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald reduced their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

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.