JPMorgan Chase & Co. Decreases Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

JPMorgan Chase & Co. reduced its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,095 shares of the company’s stock after selling 4,679 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Vera Therapeutics worth $5,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of VERA. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after acquiring an additional 350 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Vera Therapeutics in the 2nd quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vera Therapeutics in the second quarter worth approximately $163,000. Quarry LP bought a new stake in Vera Therapeutics during the second quarter valued at approximately $235,000. Finally, HighVista Strategies LLC purchased a new stake in Vera Therapeutics during the second quarter valued at approximately $331,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VERA. Wells Fargo & Company began coverage on shares of Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 price objective for the company. Guggenheim upped their price target on Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Scotiabank assumed coverage on Vera Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a report on Tuesday, October 1st. Finally, Wedbush lifted their price target on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vera Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $63.50.

Vera Therapeutics Trading Down 3.2 %

Shares of VERA opened at $32.78 on Friday. The firm has a market cap of $2.08 billion, a P/E ratio of -12.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics, Inc. has a 1 year low of $14.20 and a 1 year high of $51.61. The company has a 50 day simple moving average of $44.66 and a two-hundred day simple moving average of $41.00.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). On average, equities analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Beth C. Seidenberg sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the sale, the director now directly owns 131,553 shares of the company’s stock, valued at $6,318,490.59. This represents a 10.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marshall Fordyce sold 19,375 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $40.39, for a total transaction of $782,556.25. Following the completion of the transaction, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $12,438,989.08. This trade represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,875 shares of company stock worth $3,808,631 over the last 90 days. Corporate insiders own 21.70% of the company’s stock.

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.