Vera Therapeutics, Inc. (NASDAQ:VERA) Director Purchases $4,370,031.91 in Stock

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) Director Patrick G. Enright acquired 209,393 shares of Vera Therapeutics stock in a transaction that occurred on Monday, June 23rd. The stock was acquired at an average cost of $20.87 per share, for a total transaction of $4,370,031.91. Following the purchase, the director now owns 3,569,522 shares of the company's stock, valued at $74,495,924.14. The trade was a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Vera Therapeutics Stock Down 2.7%

Shares of NASDAQ VERA traded down $0.64 during trading on Friday, hitting $22.65. 2,679,543 shares of the company traded hands, compared to its average volume of 981,824. The business's fifty day moving average is $22.62 and its 200 day moving average is $28.90. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same quarter in the previous year, the business posted ($0.56) EPS. Equities research analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its holdings in shares of Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth about $26,000. Summit Investment Advisors Inc. raised its holdings in shares of Vera Therapeutics by 16.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth about $34,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Vera Therapeutics by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after acquiring an additional 800 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. HC Wainwright reissued a "buy" rating and issued a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Cantor Fitzgerald reduced their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Vera Therapeutics currently has an average rating of "Buy" and a consensus target price of $65.00.

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.