EFG Asset Management North America Corp. Grows Stake in Vera Therapeutics, Inc. $VERA

Key Points

• EFG Asset Management North America Corp. increased its holdings in Vera Therapeutics by 49.4% in the 1st quarter, owning approximately 0.17% of the company's stock valued at $2.6 million.
• Vera's stock price target was cut by several analysts, with JPMorgan reducing it from $56 to $53, while the average consensus target price now stands at $63.
• Vera Therapeutics reported a quarterly loss with an EPS of ($1.20), missing analysts' expectations, and plans to continue developing treatments for serious immunological diseases.

EFG Asset Management North America Corp. grew its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 109,281 shares of the company's stock after purchasing an additional 36,121 shares during the quarter. EFG Asset Management North America Corp. owned 0.17% of Vera Therapeutics worth $2,623,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VERA. Vestal Point Capital LP lifted its position in shares of Vera Therapeutics by 132.6% in the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock worth $60,050,000 after buying an additional 1,425,000 shares during the last quarter. Integral Health Asset Management LLC lifted its position in shares of Vera Therapeutics by 130.0% during the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock worth $48,634,000 after purchasing an additional 650,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Vera Therapeutics by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,754,832 shares of the company's stock worth $114,212,000 after purchasing an additional 377,783 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Vera Therapeutics by 31.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,437,339 shares of the company's stock worth $60,785,000 after purchasing an additional 340,488 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Vera Therapeutics by 18.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,675,367 shares of the company's stock worth $40,243,000 after purchasing an additional 260,188 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on VERA. JPMorgan Chase & Co. cut their price objective on Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $85.00 price objective (up previously 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 assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Vera Therapeutics Stock Performance

Shares of NASDAQ:VERA traded up $0.23 during mid-day trading on Tuesday, reaching $24.98. The company had a trading volume of 1,454,005 shares, compared to its average volume of 1,366,477. The company's 50-day moving average price is $22.21 and its 200-day moving average price is $23.28. 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, Inc. has a one year low of $18.53 and a one year high of $51.61. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -6.98 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued 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 last year, the company earned ($0.62) EPS. As a group, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Patrick G. Enright bought 40,607 shares of the stock in a transaction on Tuesday, June 24th. The shares were acquired at an average price of $22.35 per share, with a total value of $907,566.45. Following the acquisition, the director directly owned 3,596,593 shares of the company's stock, valued at $80,383,853.55. The trade was a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.30% of the stock is owned by insiders.

Vera Therapeutics 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.