Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. reduced its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,512 shares of the company’s stock after selling 4,695 shares during the quarter. Alps Advisors Inc.’s holdings in Vera Therapeutics were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VERA. Huntington National Bank acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth $26,000. Summit Investment Advisors Inc. increased its stake 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 $34,000. Alliancebernstein L.P. increased its stake 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. Finally, Corebridge Financial Inc. grew its holdings in shares of Vera Therapeutics by 5.8% during the 4th quarter. Corebridge Financial Inc. now owns 22,047 shares of the company’s stock worth $932,000 after purchasing an additional 1,210 shares during the period. 99.21% of the stock is owned by institutional investors and hedge funds.

Vera Therapeutics Stock Performance

Shares of VERA opened at $23.82 on Monday. The stock has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $27.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 27.68 and a current ratio of 27.68. The stock has a market capitalization of $1.52 billion, a PE ratio of -7.94 and a beta of 1.19. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61.

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

Insider Activity

In related news, Director Patrick G. Enright acquired 209,393 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was acquired at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the purchase, the director owned 3,569,522 shares of the company’s stock, valued at $74,495,924.14. This represents a 6.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on VERA. Guggenheim reiterated a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush lowered their price target on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Scotiabank reiterated an “outperform” rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. HC Wainwright reiterated a “buy” rating and set a $85.00 price target (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Finally, Cantor Fitzgerald lowered 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vera Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.00.

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.