Logos Global Management LP Purchases 375,000 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Logos Global Management LP raised its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 65.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 950,000 shares of the company’s stock after purchasing an additional 375,000 shares during the period. Vera Therapeutics comprises 2.8% of Logos Global Management LP’s portfolio, making the stock its 11th biggest position. Logos Global Management LP owned 1.73% of Vera Therapeutics worth $34,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement Association of Colorado purchased a new stake in shares of Vera Therapeutics during the 2nd quarter worth $135,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Vera Therapeutics by 20.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,000 shares of the company’s stock valued at $172,000 after buying an additional 688 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Vera Therapeutics in the 1st quarter valued at about $235,000. Capstone Investment Advisors LLC purchased a new position in shares of Vera Therapeutics in the 1st quarter worth approximately $248,000. Finally, Pale Fire Capital SE bought a new position in shares of Vera Therapeutics during the 4th quarter worth approximately $252,000. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Price Performance

NASDAQ VERA opened at $44.56 on Tuesday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -21.74 and a beta of 0.99. 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 stock’s fifty day moving average price is $37.63 and its 200 day moving average price is $39.00. Vera Therapeutics, Inc. has a 1 year low of $9.24 and a 1 year high of $50.78.

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

Insider Activity

In related 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 completion of the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares in the company, valued at $11,548,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $42.01, for a total value of $49,445.77. Following the completion of the sale, 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. Insiders have sold 31,273 shares of company stock valued at $1,210,750 in the last ninety days. Insiders own 21.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VERA shares. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Vera Therapeutics from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Vera Therapeutics in a research report on Monday. One research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $51.75.

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.