Summit Investment Advisors Inc. Buys 639 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Summit Investment Advisors Inc. lifted its stake in Vera Therapeutics, Inc. (NASDAQ:VERA) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,639 shares of the company’s stock after acquiring an additional 639 shares during the period. Summit Investment Advisors Inc.’s holdings in Vera Therapeutics were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Huntington National Bank bought a new position in shares of Vera Therapeutics during the 4th quarter worth approximately $26,000. AlphaQuest LLC acquired a new position in shares of Vera Therapeutics during the fourth quarter worth $34,000. KBC Group NV lifted its holdings in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after purchasing an additional 1,387 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Vera Therapeutics in the 4th quarter worth $220,000. Finally, Optimize Financial Inc purchased a new position in Vera Therapeutics during the 4th quarter worth $249,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Up 1.3 %

NASDAQ:VERA opened at $21.39 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. The company’s fifty day moving average price is $25.57 and its 200-day moving average price is $36.23. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. The firm has a market capitalization of $1.36 billion, a P/E ratio of -8.20 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.11. As a group, equities research analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VERA. The Goldman Sachs Group started coverage on Vera Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $58.00 price target for the company. Guggenheim boosted their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wolfe Research assumed coverage on shares of Vera Therapeutics in a report on Tuesday, February 4th. They issued an “outperform” rating and a $49.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $64.67.

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.