Quarry LP Has $102,000 Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Quarry LP reduced its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 64.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,300 shares of the company’s stock after selling 4,200 shares during the quarter. Quarry LP’s holdings in Vera Therapeutics were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of Vera Therapeutics by 18.7% in the first quarter. California State Teachers Retirement System now owns 32,359 shares of the company’s stock valued at $1,395,000 after buying an additional 5,088 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Vera Therapeutics in the first quarter valued at $235,000. William Marsh Rice University acquired a new stake in shares of Vera Therapeutics in the second quarter valued at $593,000. EFG Asset Management North America Corp. increased its stake in shares of Vera Therapeutics by 204.0% in the second quarter. EFG Asset Management North America Corp. now owns 31,444 shares of the company’s stock valued at $1,137,000 after buying an additional 21,101 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Vera Therapeutics by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 165,322 shares of the company’s stock valued at $5,981,000 after buying an additional 9,854 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Marshall Fordyce sold 15,625 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $37.50, for a total transaction of $585,937.50. Following the transaction, the chief executive officer now owns 307,972 shares in the company, valued at $11,548,950. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Beth C. Seidenberg sold 1,177 shares of Vera Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $42.01, for a total value of $49,445.77. Following the transaction, the director now owns 160,376 shares in the company, valued at $6,737,395.76. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,927 shares of company stock worth $3,800,796 in the last 90 days. Corporate insiders own 21.70% of the company’s stock.

Vera Therapeutics Price Performance

Shares of VERA opened at $48.46 on Friday. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics, Inc. has a 1 year low of $13.09 and a 1 year high of $51.61. The stock has a market cap of $3.07 billion, a P/E ratio of -18.57 and a beta of 1.08. The stock’s 50-day moving average price is $44.61 and its two-hundred day moving average price is $40.03.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research note on Thursday, November 21st. They issued an “overweight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI upgraded Vera Therapeutics to a “strong-buy” rating in a report on Monday, September 16th. Guggenheim raised their price target on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Scotiabank assumed coverage on Vera Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $59.22.

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.