Boothbay Fund Management LLC Takes $1.05 Million Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Boothbay Fund Management LLC acquired a new position in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,722 shares of the company's stock, valued at approximately $1,045,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank bought a new stake in Vera Therapeutics in the fourth quarter worth about $26,000. AlphaQuest LLC purchased a new stake in shares of Vera Therapeutics in the fourth quarter worth approximately $34,000. KBC Group NV lifted its stake in shares of Vera Therapeutics by 127.2% during the 4th quarter. KBC Group NV now owns 2,477 shares of the company's stock worth $105,000 after acquiring an additional 1,387 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Vera Therapeutics by 16.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock valued at $196,000 after acquiring an additional 639 shares during the period. Finally, Moors & Cabot Inc. bought a new position in Vera Therapeutics in the 4th quarter valued at $220,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VERA. JPMorgan Chase & Co. lowered their target price on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Wolfe Research assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective for the company. Guggenheim raised their target price on shares of Vera Therapeutics from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group initiated coverage on Vera Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $58.00 price target for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $64.67.

Vera Therapeutics Stock Up 6.6 %

Shares of NASDAQ:VERA traded up $1.56 on Friday, reaching $25.31. The company had a trading volume of 1,629,779 shares, compared to its average volume of 752,305. The firm has a market capitalization of $1.61 billion, a PE ratio of -9.70 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 52-week low of $18.53 and a 52-week high of $51.61. The firm's 50 day simple moving average is $24.82 and its 200-day simple moving average is $35.33.

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 the consensus estimate of ($0.83) by $0.11. As a group, analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current fiscal year.

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.