Balyasny Asset Management L.P. Purchases 209,834 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Balyasny Asset Management L.P. raised its position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 119.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 385,425 shares of the company's stock after buying an additional 209,834 shares during the quarter. Balyasny Asset Management L.P. owned 0.61% of Vera Therapeutics worth $16,300,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VERA. Huntington National Bank acquired a new stake in Vera Therapeutics during the fourth quarter valued at $26,000. Summit Investment Advisors Inc. grew its stake in shares of Vera Therapeutics by 16.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Vera Therapeutics in the fourth quarter worth $34,000. Alliancebernstein L.P. grew its stake in shares of Vera Therapeutics by 2.0% in the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after acquiring an additional 800 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of Vera Therapeutics by 22.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock worth $262,000 after acquiring an additional 1,130 shares during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VERA shares. Cantor Fitzgerald lowered their price objective on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright started coverage on shares of Vera Therapeutics in a research note on Monday, May 5th. They issued a "buy" rating and a $75.00 target price on the stock. Wedbush cut their price target on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Finally, Guggenheim boosted their price objective on Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $63.33.

Vera Therapeutics Stock Performance

Vera Therapeutics stock traded down $0.73 during mid-day trading on Tuesday, hitting $21.76. 95,772 shares of the company's stock traded hands, compared to its average volume of 775,607. The firm has a 50 day simple moving average of $24.07 and a two-hundred day simple moving average of $34.52. Vera Therapeutics, Inc. has a fifty-two week low of $18.53 and a fifty-two week high of $51.61. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -8.34 and a beta of 1.28. 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 (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the previous year, the business posted ($0.56) EPS. On average, research analysts expect 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.