Vera Therapeutics, Inc. $VERA Shares Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Vera Therapeutics stake by 1,579.2% in the second quarter, ending with 108,139 shares valued at approximately $4.64 million. Institutional investors collectively own 99.21% of the company.
• Vera reported a quarterly loss of $1.52 per share, beating analysts’ estimate of a $1.58 loss. Shares opened at $35.05, with a market capitalization of about $2.53 billion and a one-year trading range of $22.72 to $56.05.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $80.15, while insiders have sold 83,250 shares worth roughly $3.31 million in the past quarter.

Engineers Gate Manager LP raised its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 1,579.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,139 shares of the company's stock after purchasing an additional 101,699 shares during the period. Engineers Gate Manager LP owned about 0.15% of Vera Therapeutics worth $4,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VERA. Los Angeles Capital Management LLC acquired a new position in Vera Therapeutics during the 4th quarter worth $46,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Vera Therapeutics in the 4th quarter worth approximately $71,000. Quantbot Technologies LP acquired a new position in shares of Vera Therapeutics during the second quarter valued at $51,000. Nykredit A S acquired a new position in Vera Therapeutics during the 2nd quarter valued at about $97,000. Finally, Sandia Investment Management LP acquired a new stake in Vera Therapeutics in the 4th quarter valued at approximately $127,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Price Performance

NASDAQ:VERA opened at $35.05 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 10.92 and a quick ratio of 10.92. The company has a fifty day moving average price of $35.11 and a 200 day moving average price of $37.18. Vera Therapeutics, Inc. has a one year low of $22.72 and a one year high of $56.05. The stock has a market cap of $2.53 billion, a P/E ratio of -5.98 and a beta of 0.96.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.06. During the same period in the prior year, the business earned ($1.20) EPS. Analysts anticipate that Vera Therapeutics, Inc. will post -6.44 earnings per share for the current year.

Insider Buying and Selling at Vera Therapeutics

In related news, CEO Marshall Fordyce sold 18,500 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $35.12, for a total value of $649,720.00. Following the sale, the chief executive officer owned 235,244 shares of the company's stock, valued at $8,261,769.28. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 83,250 shares of company stock worth $3,307,800. 15.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on VERA. Guggenheim raised their price objective on shares of Vera Therapeutics from $56.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. The Goldman Sachs Group reissued a "buy" rating and set a $90.00 price target on shares of Vera Therapeutics in a research report on Tuesday, June 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Vera Therapeutics in a report on Friday, July 17th. TD Cowen upped their price target on shares of Vera Therapeutics from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on Vera Therapeutics from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Vera Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $80.15.

Vera Therapeutics Company Profile

Vera Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for immune-mediated diseases. The company's research is centered on therapies designed to address the underlying causes of autoimmune conditions rather than primarily managing their symptoms.

Vera's leading product candidate is atacicept, an investigational biologic designed to inhibit two proteins involved in the survival and activity of antibody-producing immune cells, B-cell activating factor and a proliferation-inducing ligand.

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