Vera Therapeutics, Inc. (NASDAQ:VERA) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lessened its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 93.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,683 shares of the company's stock after selling 724,992 shares during the period. Readystate Asset Management LP owned about 0.09% of Vera Therapeutics worth $2,108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Holocene Advisors LP increased its stake in Vera Therapeutics by 8.8% in the third quarter. Holocene Advisors LP now owns 1,954,528 shares of the company's stock valued at $86,390,000 after purchasing an additional 158,451 shares during the last quarter. Samlyn Capital LLC raised its stake in Vera Therapeutics by 90.8% during the 2nd quarter. Samlyn Capital LLC now owns 1,231,911 shares of the company's stock worth $44,571,000 after acquiring an additional 586,410 shares in the last quarter. First Light Asset Management LLC lifted its position in Vera Therapeutics by 130.6% in the second quarter. First Light Asset Management LLC now owns 1,005,723 shares of the company's stock valued at $36,387,000 after acquiring an additional 569,590 shares during the last quarter. Logos Global Management LP boosted its stake in Vera Therapeutics by 65.2% in the second quarter. Logos Global Management LP now owns 950,000 shares of the company's stock valued at $34,371,000 after acquiring an additional 375,000 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Vera Therapeutics by 9.2% during the second quarter. Marshall Wace LLP now owns 524,578 shares of the company's stock worth $18,979,000 after purchasing an additional 44,059 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on VERA shares. Wells Fargo & Company assumed coverage on Vera Therapeutics in a research report on Thursday, November 21st. They issued an "overweight" rating and a $70.00 target price for the company. Scotiabank began 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 target for the company. Guggenheim lifted their price objective on shares of Vera Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Monday, October 28th. 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 issued a $107.00 price target on shares of Vera Therapeutics in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $59.22.

Insider Activity

In related news, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total transaction of $720,450.00. Following the completion of the transaction, the director now directly owns 131,553 shares of the company's stock, valued at approximately $6,318,490.59. The trade was a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 value of $585,937.50. Following the transaction, the chief executive officer now directly owns 307,972 shares of the company's stock, valued at approximately $11,548,950. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,927 shares of company stock worth $3,800,796 in the last 90 days. 21.70% of the stock is currently owned by corporate insiders.

Vera Therapeutics Price Performance

Shares of VERA traded down $0.97 during mid-day trading on Thursday, hitting $48.49. The company's stock had a trading volume of 95,901 shares, compared to its average volume of 887,117. 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 $13.09 and a 1-year high of $51.61. The firm has a market capitalization of $3.07 billion, a P/E ratio of -18.95 and a beta of 1.08. The firm has a 50-day simple moving average of $44.46 and a 200 day simple moving average of $39.93.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) 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). Analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

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.