First Light Asset Management LLC Lowers Stock Holdings in Vera Therapeutics, Inc. $VERA

Key Points

• First Light Asset Management cut its Vera Therapeutics stake by 63.9% in the first quarter, selling 555,770 shares and retaining 313,906 shares valued at approximately $12.6 million. Institutional investors still own 99.21% of the company.
• Vera shares opened at $35.45, well below their 52-week high of $56.05. The company reported a first-quarter loss of $1.69 per share, missing the consensus estimate of a $1.33 loss.
• Analysts remain broadly optimistic, with 11 Buy ratings and a consensus “Moderate Buy” rating; the average price target is $84.58. Meanwhile, CEO Marshall Fordyce sold 46,250 shares under a pre-arranged trading plan.

First Light Asset Management LLC reduced its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 63.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,906 shares of the company's stock after selling 555,770 shares during the quarter. Vera Therapeutics makes up approximately 1.1% of First Light Asset Management LLC's portfolio, making the stock its 28th biggest position. First Light Asset Management LLC owned 0.44% of Vera Therapeutics worth $12,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Vera Therapeutics by 50.5% in the fourth quarter. GAMMA Investing LLC now owns 703 shares of the company's stock valued at $36,000 after purchasing an additional 236 shares during the period. Optimize Financial Inc increased its stake in Vera Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 17,800 shares of the company's stock worth $901,000 after buying an additional 256 shares during the period. Virtus Investment Advisers LLC increased its stake in Vera Therapeutics by 5.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 5,342 shares of the company's stock worth $271,000 after buying an additional 290 shares during the period. Intech Investment Management LLC increased its stake in Vera Therapeutics by 2.4% during the 4th quarter. Intech Investment Management LLC now owns 17,838 shares of the company's stock worth $903,000 after buying an additional 424 shares during the period. Finally, Invesco Ltd. lifted its holdings in Vera Therapeutics by 2.0% during the 2nd quarter. Invesco Ltd. now owns 27,847 shares of the company's stock worth $656,000 after buying an additional 550 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Performance

Shares of NASDAQ:VERA opened at $35.45 on Monday. Vera Therapeutics, Inc. has a 52 week low of $19.07 and a 52 week high of $56.05. The company's 50 day moving average is $37.00 and its two-hundred day moving average is $40.09. The company has a market cap of $2.54 billion, a PE ratio of -6.40 and a beta of 0.92. The company has a current ratio of 13.64, a quick ratio of 13.64 and a debt-to-equity ratio of 0.15.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($0.36). During the same period last year, the firm earned ($0.81) EPS. Equities analysts predict that Vera Therapeutics, Inc. will post -6.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on VERA shares. Evercore set a $91.00 price target on shares of Vera Therapeutics in a research report on Friday, May 15th. HC Wainwright upped their price objective on Vera Therapeutics from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Bank of America increased their price objective on Vera Therapeutics from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, TD Cowen boosted their target price on Vera Therapeutics from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.58.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 46,250 shares of Vera Therapeutics stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $42.30, for a total transaction of $1,956,375.00. Following the completion of the sale, the chief executive officer directly owned 151,994 shares of the company's stock, valued at $6,429,346.20. The trade was a 23.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 83,250 shares of company stock valued at $3,337,770 in the last 90 days. 15.90% of the stock is owned by company insiders.

Vera Therapeutics Company Profile

Vera Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies that harness the body's own regulatory T cells to treat autoimmune and inflammatory diseases. By leveraging a proprietary protein engineering platform, the company designs Treg-selective cytokine variants intended to restore immune balance and provide targeted, disease-modifying effects. Its pipeline comprises multiple preclinical and clinical candidates aimed at indications characterized by chronic inflammation and autoimmunity.

Founded in 2018 and headquartered in Cambridge, Massachusetts, Vera Therapeutics collaborates with leading academic and research institutions to advance its development programs.

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