Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 46.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,230 shares of the company’s stock after selling 6,237 shares during the quarter. Principal Financial Group Inc.’s holdings in Vera Therapeutics were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VERA. Avoro Capital Advisors LLC purchased a new position in shares of Vera Therapeutics during the 1st quarter worth approximately $227,027,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Vera Therapeutics during the first quarter worth $103,189,000. Schroder Investment Management Group acquired a new stake in shares of Vera Therapeutics in the fourth quarter valued at $17,087,000. Kynam Capital Management LP raised its holdings in shares of Vera Therapeutics by 23.5% in the 4th quarter. Kynam Capital Management LP now owns 3,650,339 shares of the company’s stock valued at $56,142,000 after buying an additional 694,286 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Vera Therapeutics by 31.5% in the 1st quarter. Vanguard Group Inc. now owns 2,148,714 shares of the company’s stock valued at $92,653,000 after buying an additional 515,106 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 15,625 shares of the business’s stock in a transaction that occurred on 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 owns 307,972 shares of the company’s stock, valued at $11,548,950. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.70% of the stock is owned by corporate insiders.

Vera Therapeutics Trading Up 5.2 %

Shares of NASDAQ:VERA opened at $37.51 on Friday. Vera Therapeutics, Inc. has a 52 week low of $9.24 and a 52 week high of $50.78. The company’s 50 day moving average is $37.00 and its two-hundred day moving average is $39.24. The company has a market cap of $2.06 billion, a PE ratio of -18.30 and a beta of 0.99. The company has a current ratio of 21.43, a quick ratio of 21.43 and a debt-to-equity ratio of 0.15.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on VERA. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Vera Therapeutics in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price 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.