Cinctive Capital Management LP Grows Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Cinctive Capital Management LP raised its stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 134.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,546 shares of the company's stock after purchasing an additional 65,046 shares during the period. Cinctive Capital Management LP owned 0.18% of Vera Therapeutics worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Vera Therapeutics by 14.3% in the 4th quarter. Vanguard Group Inc. now owns 2,949,564 shares of the company's stock worth $124,737,000 after buying an additional 369,387 shares during the last quarter. Jennison Associates LLC grew its holdings in Vera Therapeutics by 82.0% in the fourth quarter. Jennison Associates LLC now owns 813,861 shares of the company's stock worth $34,418,000 after purchasing an additional 366,763 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Vera Therapeutics by 47.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 841,313 shares of the company's stock worth $35,579,000 after purchasing an additional 269,315 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Vera Therapeutics by 515.0% during the 4th quarter. Victory Capital Management Inc. now owns 235,267 shares of the company's stock valued at $9,949,000 after purchasing an additional 197,014 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Vera Therapeutics by 14.8% in the 4th quarter. Geode Capital Management LLC now owns 1,153,325 shares of the company's stock worth $48,787,000 after purchasing an additional 148,660 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

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Vera Therapeutics Stock Performance

NASDAQ VERA traded up $0.15 on Tuesday, hitting $20.09. 163,986 shares of the company's stock traded hands, compared to its average volume of 773,240. The firm's 50-day moving average price is $29.53 and its two-hundred day moving average price is $38.17. The firm has a market capitalization of $1.28 billion, a PE ratio of -7.73 and a beta of 1.28. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics, Inc. has a 1-year low of $19.50 and a 1-year high of $51.61.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They issued a "buy" rating and a $58.00 price target for the company. JPMorgan Chase & Co. decreased 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 report on Tuesday, March 4th. Wolfe Research started coverage on shares of Vera Therapeutics in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 target price for the company. Finally, Guggenheim upped their price target on shares of Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock 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 Vera Therapeutics stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $41.74, for a total transaction of $730,450.00. Following the completion of the transaction, the chief executive officer now directly owns 143,603 shares in the company, valued at approximately $5,993,989.22. This trade represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.70% of the company's stock.

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.