Vera Therapeutics, Inc. $VERA Holdings Lowered by First Light Asset Management LLC

Key Points

• First Light Asset Management LLC sold 85,367 shares of Vera Therapeutics, reducing its ownership by 6.8%, but still holds 1,175,879 shares worth approximately $28.25 million.
• 99.21% of Vera Therapeutics' stock is currently owned by institutional investors, with multiple institutions adjusting their holdings during the first quarter.
• Vera Therapeutics reported a quarterly loss of ($1.20) EPS, missing the consensus estimate, and has a consensus rating of "Moderate Buy" with a price target of $63.00.

First Light Asset Management LLC decreased its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175,879 shares of the company's stock after selling 85,367 shares during the quarter. Vera Therapeutics comprises approximately 3.2% of First Light Asset Management LLC's holdings, making the stock its 12th biggest holding. First Light Asset Management LLC owned approximately 1.84% of Vera Therapeutics worth $28,245,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in Vera Therapeutics in the fourth quarter worth about $56,000. Quarry LP lifted its holdings in 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. AlphaQuest LLC grew its position in shares of Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock worth $96,000 after acquiring an additional 3,213 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Vera Therapeutics by 1,779.1% in the 1st quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock valued at $199,000 after acquiring an additional 7,846 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Vera Therapeutics by 19.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock valued at $229,000 after acquiring an additional 1,572 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vera Therapeutics

In other news, Director Patrick G. Enright bought 40,607 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average cost of $22.35 per share, with a total value of $907,566.45. Following the completion of the acquisition, the director directly owned 3,596,593 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. HC Wainwright reiterated a "buy" rating and set a $85.00 price objective (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. Wolfe Research reissued a "peer perform" rating on shares of Vera Therapeutics in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. One research 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. According to MarketBeat.com, Vera Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $63.00.

Vera Therapeutics Price Performance

Vera Therapeutics stock traded up $2.29 during trading hours on Friday, hitting $24.19. 2,747,955 shares of the company traded hands, compared to its average volume of 1,696,433. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. The firm's 50-day simple moving average is $22.16 and its two-hundred day simple moving average is $23.43. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same quarter last year, the business posted ($0.62) EPS. On average, sell-side analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Vera Therapeutics 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.