Price T Rowe Associates Inc. MD Buys 377,783 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Vera Therapeutics by 8.6%, owning approximately 7.46% of the company, which is valued at $114.2 million according to its latest SEC filing.
• Several institutional investors, including Integral Health Asset Management LLC and First Light Asset Management LLC, have also significantly increased their stakes in Vera Therapeutics during the fourth quarter.
• Despite a missed earnings estimate, research analysts maintain a consensus rating of "Moderate Buy" for the stock, with an average price target of $63.00.

Price T Rowe Associates Inc. MD raised its stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,754,832 shares of the company's stock after buying an additional 377,783 shares during the period. Price T Rowe Associates Inc. MD owned 7.46% of Vera Therapeutics worth $114,212,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in Vera Therapeutics by 19.9% in the fourth quarter. California State Teachers Retirement System now owns 40,640 shares of the company's stock valued at $1,719,000 after buying an additional 6,749 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Vera Therapeutics by 31.7% in the fourth quarter. Ameriprise Financial Inc. now owns 30,021 shares of the company's stock valued at $1,270,000 after buying an additional 7,227 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Vera Therapeutics by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company's stock valued at $3,451,000 after buying an additional 1,717 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Vera Therapeutics in the fourth quarter valued at approximately $264,000. Finally, Rhumbline Advisers boosted its position in Vera Therapeutics by 7.9% in the first quarter. Rhumbline Advisers now owns 63,189 shares of the company's stock valued at $1,518,000 after buying an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Insiders Place Their Bets

In related news, Director Patrick G. Enright purchased 40,607 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was purchased at an average cost of $22.35 per share, with a total value of $907,566.45. Following the completion of the purchase, the director owned 3,596,593 shares in the company, valued at approximately $80,383,853.55. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.30% of the company's stock.

Vera Therapeutics Trading Up 1.2%

NASDAQ VERA traded up $0.27 during mid-day trading on Thursday, reaching $22.29. 2,453,549 shares of the stock were exchanged, compared to its average volume of 1,702,745. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.61. 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 stock has a market cap of $1.42 billion, a P/E ratio of -6.23 and a beta of 1.17. The stock has a 50 day simple moving average of $22.18 and a 200-day simple moving average of $23.75.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted 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 in the previous year, the company earned ($0.62) EPS. On average, analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on VERA. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Wedbush dropped their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th. Scotiabank reaffirmed an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. One research 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 data from MarketBeat.com, Vera Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $63.00.

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.