Vera Therapeutics, Inc. (NASDAQ:VERA) Director Patrick G. Enright Buys 209,393 Shares

Vera Therapeutics, Inc. (NASDAQ:VERA) Director Patrick G. Enright purchased 209,393 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 3,569,522 shares in the company, valued at $74,495,924.14. The trade was a 6.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Vera Therapeutics Trading Up 3.2%

NASDAQ:VERA opened at $23.31 on Thursday. The business’s 50-day moving average is $22.55 and its two-hundred day moving average is $29.23. The firm has a market capitalization of $1.49 billion, a PE ratio of -7.77 and a beta of 1.13. Vera Therapeutics, Inc. has a 12 month low of $18.53 and a 12 month high of $51.61. 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) last announced its earnings results on Thursday, May 8th. The company reported ($0.81) 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. Research analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Institutional Trading of Vera Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Quarry LP grew its holdings in Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $60,000 after purchasing an additional 500 shares in the last quarter. Huntington National Bank purchased a new position in Vera Therapeutics in the 4th quarter valued at about $26,000. Summit Investment Advisors Inc. grew its stake in shares of Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company’s stock valued at $196,000 after acquiring an additional 639 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Vera Therapeutics during the fourth quarter valued at about $34,000. Finally, Alliancebernstein L.P. increased its position in shares of Vera Therapeutics by 2.0% during the fourth 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. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut 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. HC Wainwright reaffirmed a “buy” rating and set a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Guggenheim restated a “buy” rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Wedbush cut their target price on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank reissued an “outperform” rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. 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 stock. According to MarketBeat, the stock has a consensus 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.