Soviero Asset Management LP Invests $707,000 in Vera Therapeutics, Inc. $VERA

Soviero Asset Management LP acquired a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 30,000 shares of the company’s stock, valued at approximately $707,000.

Several other large investors have also added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Vera Therapeutics in the second quarter valued at approximately $51,000. Quarry LP increased its stake in shares of Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $60,000 after acquiring an additional 500 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company’s stock valued at $96,000 after acquiring an additional 3,213 shares in the last quarter. Virtus Investment Advisers LLC lifted its position in shares of Vera Therapeutics by 14.8% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock valued at $98,000 after acquiring an additional 539 shares during the period. Finally, Fifth Third Bancorp bought a new position in Vera Therapeutics during the second quarter worth $102,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Wall Street Analysts Forecast Growth

VERA has been the subject of a number of research reports. Pivotal Research set a $73.00 price target on shares of Vera Therapeutics in a report on Friday. TD Cowen raised their target price on Vera Therapeutics from $60.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Bank of America started coverage on Vera Therapeutics in a research note on Thursday, October 16th. They set a “buy” rating and a $48.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Vera Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, Evercore ISI boosted their price objective on Vera Therapeutics from $75.00 to $97.00 and gave the company an “outperform” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Vera Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $66.00.

Insider Buying and Selling at Vera Therapeutics

In related news, SVP Joseph R. Young sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $29.06, for a total value of $435,900.00. Following the completion of the transaction, the senior vice president directly owned 47,839 shares of the company’s stock, valued at approximately $1,390,201.34. This trade represents a 23.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.30% of the company’s stock.

Vera Therapeutics Price Performance

Shares of NASDAQ VERA opened at $44.66 on Wednesday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -11.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.21 and a current ratio of 12.21. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $48.49. The firm’s 50-day simple moving average is $31.01 and its 200 day simple moving average is $25.88.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06). During the same period last year, the company earned ($0.85) EPS. As a group, research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

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.