Voya Investment Management LLC Has $15.07 Million Holdings in Vera Therapeutics, Inc. $VERA

Key Points

• Voya Investment Management LLC has reduced its stake in Vera Therapeutics by 9.7% to approximately $15.07 million, following a sale of over 67,000 shares.
• Several institutional investors increased their holdings significantly in the first quarter, with Vestal Point Capital LP raising its position by 132.6% to hold 2.5 million shares valued at $60.05 million.
• Vera Therapeutics' stock has faced challenges, reporting earnings per share of ($1.20), which was below estimates, and analysts maintain a consensus rating of "Moderate Buy" with a target price of $63.00.

Voya Investment Management LLC lessened its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 627,357 shares of the company's stock after selling 67,734 shares during the period. Voya Investment Management LLC owned about 0.98% of Vera Therapeutics worth $15,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Vera Therapeutics by 7.9% in the first quarter. Rhumbline Advisers now owns 63,189 shares of the company's stock worth $1,518,000 after purchasing an additional 4,600 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Vera Therapeutics by 297.1% in the 1st quarter. Jane Street Group LLC now owns 41,578 shares of the company's stock valued at $999,000 after purchasing an additional 62,678 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Vera Therapeutics by 22.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,013 shares of the company's stock worth $2,354,000 after buying an additional 17,907 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Vera Therapeutics during the 1st quarter worth approximately $326,000. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of Vera Therapeutics in the 1st quarter valued at $1,829,000. Institutional investors own 99.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Vera Therapeutics in a research report on Thursday. Guggenheim reissued a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price target on shares of 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, Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock traded down $0.75 on Friday, reaching $25.59. The stock had a trading volume of 2,237,530 shares, compared to its average volume of 1,735,267. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The business's 50-day moving average price is $22.43 and its two-hundred day moving average price is $23.13. The stock has a market cap of $1.63 billion, a P/E ratio of -7.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current 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 analysts' consensus estimates of ($0.82) by ($0.38). During the same period last year, the company earned ($0.62) EPS. On average, sell-side analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity

In other news, Director Patrick G. Enright bought 40,607 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was acquired at an average price of $22.35 per share, for a total transaction 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 trade represents a 1.14% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.30% of the stock is owned by company insiders.

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.