Decheng Capital LLC Sells 45,272 Shares of Vera Therapeutics, Inc. (NASDAQ:VERA)

Key Points

• Decheng Capital LLC reduced its stock position in Vera Therapeutics by 91.0%, owning only 4,495 shares at the end of the first quarter, making it a negligible part of their portfolio.
• Several institutional investors have recently increased their stakes in Vera Therapeutics, with holdings now comprising 99.21% of the company's stock.
• Vera Therapeutics reported a quarterly loss of ($0.81) per share, which was below analysts' expectations, and they anticipate an annual EPS of -2.89 for the current year.

Decheng Capital LLC reduced its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,495 shares of the company's stock after selling 45,272 shares during the quarter. Vera Therapeutics makes up about 0.0% of Decheng Capital LLC's investment portfolio, making the stock its 26th biggest holding. Decheng Capital LLC's holdings in Vera Therapeutics were worth $108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thornburg Investment Management Inc. grew its holdings in shares of Vera Therapeutics by 12.8% during the first quarter. Thornburg Investment Management Inc. now owns 66,572 shares of the company's stock valued at $1,599,000 after purchasing an additional 7,568 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Vera Therapeutics during the first quarter valued at approximately $252,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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. TD Asset Management Inc grew its holdings in shares of Vera Therapeutics by 9.4% during the first quarter. TD Asset Management Inc now owns 252,164 shares of the company's stock valued at $6,057,000 after purchasing an additional 21,606 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Vera Therapeutics during the first quarter valued at approximately $293,000. 99.21% of the stock is owned by institutional investors.

Vera Therapeutics Stock Performance

VERA stock traded up $0.16 during mid-day trading on Friday, reaching $20.95. 1,000,400 shares of the stock traded hands, compared to its average volume of 859,998. The company has a quick ratio of 27.68, a current ratio of 27.68 and a debt-to-equity ratio of 0.10. Vera Therapeutics, Inc. has a 52 week low of $18.53 and a 52 week high of $51.61. The business has a 50-day moving average of $22.87 and a two-hundred day moving average of $25.70. The firm has a market capitalization of $1.34 billion, a PE ratio of -6.98 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). During the same quarter in the prior year, the company posted ($0.56) EPS. As a group, equities analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In other news, Director Patrick G. Enright purchased 40,607 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was bought at an average cost of $22.35 per share, for a total transaction of $907,566.45. Following the completion of the acquisition, the director directly owned 3,596,593 shares of the company's stock, valued at approximately $80,383,853.55. The trade was a 1.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush reduced their price objective on Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. HC Wainwright restated a "buy" rating and issued a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a report on Monday, June 2nd. Cantor Fitzgerald reduced their target price on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. One 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 stock. Based on data from MarketBeat, Vera Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $65.00.

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.