T. Rowe Price Investment Management Inc. Acquires 260,188 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Vera Therapeutics by 18.4%, holding approximately 1.68 million shares valued at $40.24 million.
• Insider Patrick G. Enright purchased 40,607 shares at $22.35 each, bringing his total ownership to over 3.59 million shares worth approximately $80.38 million.
• Vera Therapeutics reported a loss per share of ($1.20) for the latest quarter, missing analysts' estimates of ($0.82), while analysts anticipate an average loss of ($2.89) for the current fiscal year.

T. Rowe Price Investment Management Inc. boosted its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 18.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,675,367 shares of the company's stock after acquiring an additional 260,188 shares during the period. T. Rowe Price Investment Management Inc. owned 2.63% of Vera Therapeutics worth $40,243,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VERA. Wells Fargo & Company MN grew its holdings in Vera Therapeutics by 229.7% during the 4th quarter. Wells Fargo & Company MN now owns 39,576 shares of the company's stock worth $1,674,000 after acquiring an additional 27,573 shares during the period. Invesco Ltd. grew its holdings in Vera Therapeutics by 7.0% during the 4th quarter. Invesco Ltd. now owns 21,954 shares of the company's stock worth $928,000 after acquiring an additional 1,444 shares during the period. Renaissance Technologies LLC acquired a new stake in Vera Therapeutics during the 4th quarter worth $1,510,000. Raymond James Financial Inc. acquired a new stake in Vera Therapeutics during the 4th quarter worth $2,948,000. Finally, Barclays PLC grew its holdings in shares of Vera Therapeutics by 16.1% in the 4th quarter. Barclays PLC now owns 99,148 shares of the company's stock valued at $4,192,000 after buying an additional 13,753 shares during the period. Institutional investors and hedge funds own 99.21% of the company's stock.

Vera Therapeutics Stock Up 5.6%

VERA traded up $1.20 during trading on Tuesday, hitting $22.54. The company had a trading volume of 1,674,239 shares, compared to its average volume of 1,650,280. The company has a market capitalization of $1.44 billion, a PE ratio of -6.30 and a beta of 1.17. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.61. The firm's 50-day moving average price is $22.13 and its 200 day moving average price is $23.86. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.20) EPS 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. As a group, equities analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Insider Buying and Selling

In other Vera Therapeutics news, Director Patrick G. Enright purchased 40,607 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were purchased at an average cost of $22.35 per share, with a total value of $907,566.45. Following the transaction, the director directly owned 3,596,593 shares of the company's stock, valued at $80,383,853.55. This represents a 1.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VERA shares. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Cantor Fitzgerald decreased their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. HC Wainwright reissued a "buy" rating and issued a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

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.