Geode Capital Management LLC Buys 20,223 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Geode Capital Management LLC lifted its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,004,665 shares of the company’s stock after acquiring an additional 20,223 shares during the period. Geode Capital Management LLC owned 1.83% of Vera Therapeutics worth $44,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake 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 acquired a new stake in Vera Therapeutics in the 2nd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vera Therapeutics during the 2nd quarter valued at $163,000. Quarry LP acquired a new position in Vera Therapeutics during the second quarter worth $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock valued at $272,000 after buying an additional 1,737 shares in the last quarter. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Price Performance

Shares of VERA opened at $42.31 on Tuesday. The firm’s 50-day simple moving average is $45.27 and its two-hundred day simple moving average is $40.49. Vera Therapeutics, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $51.61. The stock has a market cap of $2.68 billion, a PE ratio of -16.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.21). Analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VERA shares. Wedbush lifted their price target on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a report on Tuesday, October 1st. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Scotiabank assumed coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $59.22.

Insiders Place Their Bets

In related news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $43.07, for a total transaction of $753,725.00. Following the completion of the transaction, the chief executive officer now directly owns 85,942 shares in the company, valued at approximately $3,701,521.94. The trade was a 16.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director now owns 131,553 shares of the company’s stock, valued at approximately $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,125 shares of company stock valued at $4,740,588. Company insiders own 21.70% of the company’s stock.

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.