Cinctive Capital Management LP Purchases 65,046 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Cinctive Capital Management LP grew its position in Vera Therapeutics, Inc. (NASDAQ:VERA) by 134.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,546 shares of the company’s stock after acquiring an additional 65,046 shares during the quarter. Cinctive Capital Management LP’s holdings in Vera Therapeutics were worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank purchased a new position in shares of Vera Therapeutics in the fourth quarter valued at $26,000. AlphaQuest LLC bought a new position in Vera Therapeutics during the fourth quarter valued at $34,000. Alliancebernstein L.P. grew its stake in shares of Vera Therapeutics by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 40,350 shares of the company’s stock worth $1,706,000 after buying an additional 800 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Vera Therapeutics by 22.3% in the 4th quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company’s stock worth $262,000 after buying an additional 1,130 shares during the last quarter. Finally, Corebridge Financial Inc. raised its position in shares of Vera Therapeutics by 5.8% during the 4th quarter. Corebridge Financial Inc. now owns 22,047 shares of the company’s stock valued at $932,000 after buying an additional 1,210 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

Analyst Ratings Changes

VERA has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, March 4th. 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 target price for the company. Guggenheim increased their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Wolfe Research initiated coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.67.

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, January 8th. The stock was sold at an average price of $41.74, for a total value of $730,450.00. Following the completion of the sale, the chief executive officer now owns 143,603 shares in the company, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.70% of the company’s stock.

Vera Therapeutics Stock Performance

Shares of Vera Therapeutics stock opened at $23.59 on Thursday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $30.30 and its two-hundred day moving average is $38.59. Vera Therapeutics, Inc. has a 52 week low of $21.45 and a 52 week high of $51.61. The company has a market capitalization of $1.50 billion, a PE ratio of -9.04 and a beta of 1.17.

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

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.