Cinctive Capital Management LP Sells 87,182 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• Cinctive Capital Management LP has significantly reduced its stake in Vera Therapeutics, Inc. by 76.8% in the first quarter, now holding 26,364 shares worth approximately $633,000.
• Other institutional investors, including GF Fund Management and AlphaQuest LLC, have also adjusted their positions in Vera Therapeutics, with some increasing their holdings by over 400%.
• Despite a recent earnings miss, analysts maintain a overall positive outlook with a consensus rating of "Moderate Buy" and a target price of $63.00 for the stock.

Cinctive Capital Management LP cut its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 76.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,364 shares of the company's stock after selling 87,182 shares during the period. Cinctive Capital Management LP's holdings in Vera Therapeutics were worth $633,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VERA. Quarry LP boosted its stake in shares of Vera Therapeutics by 25.0% during the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after buying an additional 500 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Vera Therapeutics by 5.8% in the first quarter. Wellington Management Group LLP now owns 19,061 shares of the company's stock valued at $458,000 after acquiring an additional 1,043 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Vera Therapeutics during the fourth quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vera Therapeutics by 19.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock valued at $229,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Vera Therapeutics by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company's stock valued at $3,451,000 after purchasing an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Analyst Ratings Changes

VERA has been the topic of several recent analyst reports. Wolfe Research reaffirmed a "peer perform" rating on shares of Vera Therapeutics in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their target price on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. HC Wainwright restated a "buy" rating and set a $85.00 target price (up from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, Scotiabank reissued an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Vera Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Vera Therapeutics Stock Performance

Shares of VERA stock traded up $0.17 during trading on Thursday, reaching $24.53. 1,008,997 shares of the company's stock were exchanged, compared to its average volume of 1,909,494. Vera Therapeutics, Inc. has a twelve month low of $18.53 and a twelve month high of $51.61. The firm's fifty day moving average price is $22.28 and its 200-day moving average price is $23.28. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.57 billion, a PE ratio of -6.85 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.38). During the same quarter last year, the business earned ($0.62) earnings per share. As a group, sell-side analysts anticipate that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Insider Activity

In related news, Director Patrick G. Enright bought 40,607 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was bought at an average price of $22.35 per share, for a total transaction of $907,566.45. Following the purchase, the director owned 3,596,593 shares in the company, valued at $80,383,853.55. This represents a 1.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.30% of the company's stock.

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.