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

Geode Capital Management LLC grew its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 2.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,004,665 shares of the company’s stock after acquiring an additional 20,223 shares during the quarter. Geode Capital Management LLC’s holdings in Vera Therapeutics were worth $44,415,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock worth $86,000 after acquiring an additional 350 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Vera Therapeutics during the 2nd quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vera Therapeutics during the 2nd quarter valued at $163,000. Quarry LP purchased a new stake in Vera Therapeutics during the 2nd quarter valued at $235,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vera Therapeutics by 30.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the company’s stock worth $272,000 after buying an additional 1,737 shares during the last quarter. Institutional investors own 99.21% of the company’s stock.

Insider Buying and Selling at Vera Therapeutics

In other news, CEO Marshall Fordyce sold 17,500 shares of Vera Therapeutics stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $46.94, for a total value of $821,450.00. Following the transaction, the chief executive officer now directly owns 85,942 shares in the company, valued at approximately $4,034,117.48. This trade represents a 16.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Beth C. Seidenberg sold 15,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the completion of the transaction, the director now directly 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 have sold 108,125 shares of company stock valued at $4,740,588. Company insiders own 21.70% of the company’s stock.

Vera Therapeutics Trading Down 0.7 %

VERA opened at $42.31 on Tuesday. Vera Therapeutics, Inc. has a 52 week low of $14.20 and a 52 week high of $51.61. The company has a market capitalization of $2.68 billion, a P/E ratio of -16.21 and a beta of 1.08. The stock’s fifty day moving average is $45.27 and its two-hundred day moving average is $40.49. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA) last released its quarterly earnings data 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). Analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Scotiabank began coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 target price on the stock. Guggenheim raised their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. increased their price target on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Wedbush boosted their price objective on 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, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $59.22.

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.