Algert Global LLC Increases Stake in Vera Therapeutics, Inc. $VERA

Key Points

• Algert Global LLC increased its stake in Vera Therapeutics, Inc. by 81.6%, owning 70,010 shares worth approximately $1.68 million after acquiring an additional 31,460 shares in the first quarter.
• Insider transactions include Director Patrick G. Enright purchasing 209,393 shares for about $4.37 million, increasing his ownership stake to nearly 3.57 million shares.
• Vera Therapeutics' stock has a current target price consensus of $63.00 and is rated as a "Moderate Buy" by analysts, despite a recent earnings miss of ($1.20) per share.

Algert Global LLC increased its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 81.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,010 shares of the company's stock after purchasing an additional 31,460 shares during the period. Algert Global LLC owned approximately 0.11% of Vera Therapeutics worth $1,682,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Vera Therapeutics in the 1st quarter worth $471,000. Russell Investments Group Ltd. lifted its holdings in shares of Vera Therapeutics by 505.1% in the 1st quarter. Russell Investments Group Ltd. now owns 152,918 shares of the company's stock worth $3,673,000 after purchasing an additional 127,646 shares in the last quarter. Knott David M Jr bought a new position in shares of Vera Therapeutics in the 1st quarter worth $240,000. Nuveen LLC bought a new position in Vera Therapeutics during the 1st quarter valued at $3,768,000. Finally, Invesco Ltd. lifted its stake in Vera Therapeutics by 24.3% during the 1st quarter. Invesco Ltd. now owns 27,297 shares of the company's stock valued at $656,000 after acquiring an additional 5,343 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Insider Activity

In other Vera Therapeutics news, Director Patrick G. Enright bought 40,607 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 3,596,593 shares in the company, valued at $80,383,853.55. This trade represents a 1.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on VERA. Wedbush dropped their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald dropped their price objective 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. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, HC Wainwright restated a "buy" rating and set a $85.00 price objective (up 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 given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded up $1.17 during trading hours on Tuesday, hitting $22.51. 1,141,241 shares of the company's stock traded hands, compared to its average volume of 1,324,917. 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 -6.26 and a beta of 1.17. The company has a fifty day simple moving average of $22.10 and a 200-day simple moving average of $23.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 17.03 and a quick ratio of 17.03.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same quarter in the previous year, the firm earned ($0.62) earnings per share. Equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

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.