Patrick G. Enright Purchases 209,393 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) Stock

Vera Therapeutics, Inc. (NASDAQ:VERA - Get Free Report) Director Patrick G. Enright acquired 209,393 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were purchased at an average price of $20.87 per share, with a total value of $4,370,031.91. Following the completion of the acquisition, the director now owns 3,569,522 shares in the company, valued at approximately $74,495,924.14. The trade was a 6.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Vera Therapeutics Trading Down 0.1%

Shares of Vera Therapeutics stock traded down $0.02 on Thursday, hitting $23.29. 1,973,462 shares of the company's stock traded hands, compared to its average volume of 972,625. The stock has a market capitalization of $1.49 billion, a PE ratio of -7.76 and a beta of 1.13. 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 $22.55 and its two-hundred day moving average price is $29.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 27.68 and a quick ratio of 27.68.

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

Analyst Ratings Changes

A number of brokerages recently commented on VERA. Cantor Fitzgerald reduced their price target on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush cut their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. 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 analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $65.00.

Institutional Investors Weigh In On Vera Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Vestal Point Capital LP lifted its position in Vera Therapeutics by 132.6% during the first quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock worth $60,050,000 after acquiring an additional 1,425,000 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in Vera Therapeutics by 30.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,610,000 shares of the company's stock worth $237,247,000 after purchasing an additional 1,300,410 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Vera Therapeutics by 170.8% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,153,670 shares of the company's stock valued at $48,788,000 after purchasing an additional 727,656 shares during the period. Federated Hermes Inc. grew its holdings in Vera Therapeutics by 162.2% in the 4th quarter. Federated Hermes Inc. now owns 1,085,986 shares of the company's stock valued at $45,926,000 after buying an additional 671,881 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its position in Vera Therapeutics by 130.0% during the 4th quarter. Integral Health Asset Management LLC now owns 1,150,000 shares of the company's stock worth $48,634,000 after buying an additional 650,000 shares during the period. Institutional investors and hedge funds own 99.21% of the company's stock.

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.