Cinctive Capital Management LP Has $2.14 Million Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Cinctive Capital Management LP increased its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 39.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,500 shares of the company's stock after purchasing an additional 13,728 shares during the period. Cinctive Capital Management LP owned 0.09% of Vera Therapeutics worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Vera Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company's stock worth $86,000 after buying an additional 350 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Vera Therapeutics in the second quarter worth about $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vera Therapeutics during the 2nd quarter valued at approximately $163,000. Cetera Advisors LLC bought a new stake in shares of Vera Therapeutics in the first quarter worth $235,000. Finally, Quarry LP bought a new position in shares of Vera Therapeutics during the second quarter worth about $235,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Down 0.4 %

VERA stock traded down $0.22 during trading on Tuesday, reaching $49.33. 139,765 shares of the company's stock were exchanged, compared to its average volume of 892,136. Vera Therapeutics, Inc. has a 1-year low of $13.09 and a 1-year high of $51.61. 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 current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). On average, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VERA. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Scotiabank initiated coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $60.00 price objective on the stock. Guggenheim boosted their price objective on Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, Evercore ISI raised Vera Therapeutics to a "strong-buy" rating in a research report on Monday, September 16th. One investment 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 stock presently has an average rating of "Buy" and a consensus price target of $59.22.

Insider Activity

In other Vera Therapeutics news, Director Beth C. Seidenberg sold 1,177 shares of the company's stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marshall Fordyce sold 23,125 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $46.05, for a total transaction of $1,064,906.25. Following the transaction, the chief executive officer now owns 307,972 shares of the company's stock, valued at approximately $14,182,110.60. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,927 shares of company stock worth $3,800,796 over the last three months. Corporate insiders own 21.70% of the company's stock.

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.