Samlyn Capital LLC Sells 683,797 Shares of Vera Therapeutics, Inc. $VERA

Key Points

• Samlyn Capital LLC reduced its stake in Vera Therapeutics by 41.1%, selling 683,797 shares during the first quarter, leaving it with approximately 978,423 shares valued at $23.5 million.
• Multiple institutional investors have been actively buying shares of Vera Therapeutics, with AlphaQuest LLC increasing its stake by 404.7% and GAMMA Investing LLC by 1,779.1% in the same period.
• Vera Therapeutics recently reported a quarterly loss of ($1.20) EPS, missing analysts' estimates, while analysts maintain an average price target of $63.00 for the stock.

Samlyn Capital LLC cut its holdings in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 978,423 shares of the company's stock after selling 683,797 shares during the period. Samlyn Capital LLC owned approximately 1.53% of Vera Therapeutics worth $23,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the 4th quarter worth approximately $56,000. Quarry LP raised its holdings in shares of Vera Therapeutics by 25.0% during the first quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares during the period. AlphaQuest LLC lifted its position in Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company's stock valued at $96,000 after acquiring an additional 3,213 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Vera Therapeutics in the 4th quarter worth $264,000. Finally, GAMMA Investing LLC increased its holdings in Vera Therapeutics by 1,779.1% during the 1st quarter. GAMMA Investing LLC now owns 8,287 shares of the company's stock worth $199,000 after purchasing an additional 7,846 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Performance

NASDAQ:VERA traded up $0.15 during mid-day trading on Thursday, hitting $24.51. The stock had a trading volume of 1,008,994 shares, compared to its average volume of 1,372,479. The company's 50 day simple moving average is $22.27 and its 200 day simple moving average is $23.30. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -6.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 17.03 and a current ratio of 17.03. Vera Therapeutics, Inc. has a twelve month low of $18.53 and a twelve month high of $51.61.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.38). During the same quarter in the prior year, the business earned ($0.62) earnings per share. On average, equities research analysts forecast that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on VERA shares. Wolfe Research restated a "peer perform" rating on shares of Vera Therapeutics in a report on Monday, August 4th. HC Wainwright reissued a "buy" rating and issued a $85.00 target price (up previously from $75.00) on shares of Vera Therapeutics in a research report on Monday, June 2nd. JPMorgan Chase & Co. cut their price target on shares of Vera Therapeutics from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Guggenheim restated a "buy" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. Finally, Scotiabank reiterated an "outperform" rating on shares of Vera Therapeutics in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Insider Buying and Selling

In related news, Director Patrick G. Enright acquired 209,393 shares of Vera Therapeutics stock in a transaction on Monday, June 23rd. The stock was purchased at an average cost of $20.87 per share, with a total value of $4,370,031.91. Following the completion of the transaction, the director directly owned 3,569,522 shares in the company, valued at $74,495,924.14. This trade represents a 6.23% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.30% of the stock is currently owned by company insiders.

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.