Bank of New York Mellon Corp Has $6 Million Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Bank of New York Mellon Corp lifted its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,948 shares of the company’s stock after buying an additional 7,895 shares during the period. Bank of New York Mellon Corp’s holdings in Vera Therapeutics were worth $6,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Vera Therapeutics by 13.5% during the third quarter. Victory Capital Management Inc. now owns 38,253 shares of the company’s stock worth $1,691,000 after acquiring an additional 4,546 shares in the last quarter. First Turn Management LLC raised its holdings in Vera Therapeutics by 53.3% during the third quarter. First Turn Management LLC now owns 326,494 shares of the company’s stock worth $14,431,000 after acquiring an additional 113,550 shares in the last quarter. Jennison Associates LLC raised its holdings in Vera Therapeutics by 1.3% during the third quarter. Jennison Associates LLC now owns 447,098 shares of the company’s stock worth $19,762,000 after acquiring an additional 5,936 shares in the last quarter. Intech Investment Management LLC bought a new stake in Vera Therapeutics during the third quarter worth about $475,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Vera Therapeutics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 361,805 shares of the company’s stock worth $15,992,000 after acquiring an additional 10,717 shares in the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VERA. JPMorgan Chase & Co. dropped their target price on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company began coverage on Vera Therapeutics in a report on Thursday, November 21st. They set an “overweight” rating and a $70.00 target price on the stock. Guggenheim upped their target price on Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wolfe Research started coverage on Vera Therapeutics in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $64.67.

Insider Activity

In related news, CEO Marshall Fordyce sold 17,500 shares of the 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 sale, the chief executive officer now owns 85,942 shares of the company’s stock, valued at $3,701,521.94. This represents a 16.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 21.70% of the stock is owned by company insiders.

Vera Therapeutics Price Performance

Vera Therapeutics stock opened at $27.99 on Monday. Vera Therapeutics, Inc. has a 12 month low of $25.99 and a 12 month high of $51.61. The stock’s 50 day moving average is $33.01 and its 200-day moving average is $39.64. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -10.72 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11. Equities research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

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.