Cinctive Capital Management LP Purchases 13,728 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Cinctive Capital Management LP raised its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 39.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,500 shares of the company’s stock after purchasing an additional 13,728 shares during the quarter. Cinctive Capital Management LP owned approximately 0.09% of Vera Therapeutics worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Vera Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after buying an additional 350 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Vera Therapeutics during the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vera Therapeutics during the second quarter worth $163,000. Cetera Advisors LLC bought a new position in shares of Vera Therapeutics in the first quarter worth $235,000. Finally, Quarry LP purchased a new position in shares of Vera Therapeutics in the second quarter valued at $235,000. Institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Down 0.4 %

Shares of NASDAQ:VERA opened at $49.55 on Tuesday. The company’s fifty day moving average price is $44.21 and its 200-day moving average price is $39.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.76 and a quick ratio of 13.76. Vera Therapeutics, Inc. has a one year low of $13.09 and a one year high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, November 7th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.21). As a group, analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have commented on VERA. JPMorgan Chase & Co. raised their target price on Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wedbush raised their price objective on shares of Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Scotiabank began coverage on shares of Vera Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 target price on the stock. Evercore ISI upgraded shares of Vera Therapeutics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.