Vera Therapeutics, Inc. (NASDAQ:VERA) Stake Reduced by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC decreased its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,309,590 shares of the company’s stock after selling 955,410 shares during the period. Vera Therapeutics makes up 2.1% of Avoro Capital Advisors LLC’s portfolio, making the stock its 16th biggest holding. Avoro Capital Advisors LLC owned 7.88% of Vera Therapeutics worth $155,921,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VERA. HighVista Strategies LLC acquired a new stake in Vera Therapeutics during the second quarter valued at approximately $331,000. Ensign Peak Advisors Inc lifted its position in shares of Vera Therapeutics by 13.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 11,750 shares of the company’s stock valued at $425,000 after acquiring an additional 1,400 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Vera Therapeutics during the 2nd quarter worth $135,000. Renaissance Technologies LLC boosted its stake in shares of Vera Therapeutics by 28.5% during the 2nd quarter. Renaissance Technologies LLC now owns 147,800 shares of the company’s stock worth $5,347,000 after acquiring an additional 32,800 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Vera Therapeutics in the 2nd quarter worth $10,492,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at $6,737,395.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marshall Fordyce sold 15,625 shares of the 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 transaction, 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 the SEC website. Also, Director Beth C. Seidenberg sold 1,177 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total transaction of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at approximately $6,737,395.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,273 shares of company stock valued at $1,210,750. 21.70% of the stock is owned by insiders.

Vera Therapeutics Price Performance

Shares of VERA opened at $42.78 on Monday. The business’s 50-day moving average is $37.47 and its 200-day moving average is $39.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 21.43 and a quick ratio of 21.43. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -20.87 and a beta of 0.99. Vera Therapeutics, Inc. has a fifty-two week low of $9.24 and a fifty-two week high of $50.78.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Equities research analysts expect that Vera Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on VERA. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vera Therapeutics has an average rating of “Buy” and a consensus price target of $51.75.

Vera Therapeutics 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.