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

Cinctive Capital Management LP boosted its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA) by 134.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,546 shares of the company’s stock after purchasing an additional 65,046 shares during the period. Cinctive Capital Management LP owned about 0.18% of Vera Therapeutics worth $4,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank purchased a new stake in Vera Therapeutics during the 4th quarter valued at $26,000. AlphaQuest LLC purchased a new stake in Vera Therapeutics during the fourth quarter valued at $34,000. KBC Group NV increased its position in Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company’s stock valued at $105,000 after acquiring an additional 1,387 shares during the last quarter. Moors & Cabot Inc. bought a new position in Vera Therapeutics in the fourth quarter valued at about $220,000. Finally, E Fund Management Co. Ltd. lifted its holdings in Vera Therapeutics by 22.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company’s stock valued at $262,000 after acquiring an additional 1,130 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Vera Therapeutics Trading Up 7.1 %

Shares of Vera Therapeutics stock opened at $23.59 on Thursday. Vera Therapeutics, Inc. has a fifty-two week low of $21.45 and a fifty-two week high of $51.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The company has a market capitalization of $1.50 billion, a P/E ratio of -9.04 and a beta of 1.17. The company has a fifty day moving average of $30.30 and a 200 day moving average of $38.59.

Vera Therapeutics (NASDAQ:VERA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.11. On average, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VERA shares. Guggenheim increased their price objective on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 4th. Wolfe Research assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price objective for the company. Finally, 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 on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Vera Therapeutics has an average rating of “Buy” and an average price target of $64.67.

Insiders Place Their Bets

In other news, CEO Marshall Fordyce sold 17,500 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.74, for a total value of $730,450.00. Following the transaction, the chief executive officer now owns 143,603 shares of the company’s stock, valued at approximately $5,993,989.22. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.70% of the stock is currently owned by corporate insiders.

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.