Arizona State Retirement System Buys 1,250 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Arizona State Retirement System boosted its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 14.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,907 shares of the company’s stock after buying an additional 1,250 shares during the period. Arizona State Retirement System’s holdings in Vera Therapeutics were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VERA. Ameritas Investment Partners Inc. raised its position in shares of Vera Therapeutics by 20.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock worth $172,000 after purchasing an additional 688 shares during the period. Cetera Advisors LLC acquired a new position in Vera Therapeutics during the first quarter worth $235,000. Capstone Investment Advisors LLC acquired a new position in Vera Therapeutics during the first quarter worth $248,000. Pale Fire Capital SE bought a new position in shares of Vera Therapeutics in the fourth quarter valued at $252,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vera Therapeutics by 30.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after buying an additional 1,737 shares during the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

Vera Therapeutics Trading Down 0.2 %

Shares of VERA opened at $40.02 on Wednesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of -19.52 and a beta of 0.99. Vera Therapeutics, Inc. has a twelve month low of $9.24 and a twelve month high of $50.78. The company has a quick ratio of 21.43, a current ratio of 21.43 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $37.18 and a two-hundred day simple moving average of $39.08.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). On average, research analysts anticipate that Vera Therapeutics, Inc. will post -2.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vera Therapeutics presently has an average rating of “Buy” and an average price target of $51.75.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $37.50, for a total transaction of $585,937.50. Following the sale, the chief executive officer now owns 307,972 shares in the company, valued at approximately $11,548,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.70% of the stock is owned by corporate insiders.

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.