Victory Capital Management Inc. Lowers Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Victory Capital Management Inc. reduced its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,740 shares of the company's stock after selling 13,527 shares during the period. Victory Capital Management Inc. owned about 0.35% of Vera Therapeutics worth $5,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank purchased a new position in shares of Vera Therapeutics during the fourth quarter worth $26,000. GF Fund Management CO. LTD. purchased a new position in shares of Vera Therapeutics during the fourth quarter worth $56,000. Summit Investment Advisors Inc. boosted its position in shares of Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after buying an additional 639 shares during the period. Optimize Financial Inc purchased a new position in shares of Vera Therapeutics during the fourth quarter worth $249,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Vera Therapeutics during the fourth quarter worth $264,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 bought at an average cost of $22.35 per share, for a total transaction of $907,566.45. Following the completion of the purchase, the director directly owned 3,596,593 shares in the company, valued at approximately $80,383,853.55. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.30% of the stock is currently owned by corporate insiders.

Vera Therapeutics Stock Down 0.3%

Vera Therapeutics stock opened at $21.81 on Friday. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 27.68 and a quick ratio of 27.68. The stock has a market cap of $1.39 billion, a PE ratio of -7.27 and a beta of 1.19. The stock's fifty day moving average is $22.85 and its two-hundred day moving average is $26.09.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same quarter in the prior year, the business posted ($0.56) earnings per share. On average, sell-side analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald decreased their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Wedbush decreased their target price on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $65.00.

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.

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