First Light Asset Management LLC Acquires 569,590 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

First Light Asset Management LLC increased its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 130.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,005,723 shares of the company’s stock after acquiring an additional 569,590 shares during the period. Vera Therapeutics comprises 3.2% of First Light Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. First Light Asset Management LLC owned 1.84% of Vera Therapeutics worth $36,387,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. William Marsh Rice University purchased a new stake in shares of Vera Therapeutics in the second quarter worth approximately $593,000. Cambridge Trust Co. grew its holdings in Vera Therapeutics by 386.6% during the first quarter. Cambridge Trust Co. now owns 48,107 shares of the company’s stock worth $2,074,000 after buying an additional 38,220 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Vera Therapeutics in the 1st quarter valued at $9,727,000. Jennison Associates LLC bought a new position in Vera Therapeutics during the 1st quarter valued at $3,231,000. Finally, Vanguard Group Inc. lifted its stake in Vera Therapeutics by 31.5% during the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after acquiring an additional 515,106 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $44.56 on Tuesday. The firm’s 50-day simple moving average is $37.63 and its two-hundred day simple moving average is $39.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 21.43 and a current ratio of 21.43. Vera Therapeutics, Inc. has a 52 week low of $9.24 and a 52 week high of $50.78. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -21.74 and a beta of 0.99.

Vera Therapeutics (NASDAQ:VERA) last announced 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). As a group, equities analysts forecast that Vera Therapeutics, Inc. will post -2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vera Therapeutics currently has an average rating of “Buy” and a consensus price target of $51.75.

Insiders Place Their Bets

In other news, Director Beth C. Seidenberg sold 1,177 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the sale, the director now directly owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total transaction of $49,445.77. Following the completion of the sale, the director now owns 160,376 shares of the company’s stock, valued at $6,737,395.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total value of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $11,548,950. The disclosure for this sale can be found here. Insiders have sold a total of 31,273 shares of company stock worth $1,210,750 over the last 90 days. Corporate insiders own 21.70% of the company’s stock.

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.