Vera Therapeutics, Inc. $VERA Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Vera Therapeutics stake by 70.9% in the third quarter, selling 127,159 shares and ending the period with 52,308 shares worth about $1.69 million. Institutional investors collectively own 99.21% of the stock.
• Vera reported quarterly loss per share of $1.30, narrower than the $1.62 loss analysts expected; revenue of $10.28 million also exceeded the $3.42 million consensus estimate.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $74.93. Shares opened at $30.61, while analyst views range from sell ratings to buy recommendations.

CenterBook Partners LP cut its stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 70.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,308 shares of the company's stock after selling 127,159 shares during the quarter. CenterBook Partners LP owned about 0.07% of Vera Therapeutics worth $1,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Braidwell LP grew its holdings in Vera Therapeutics by 7.8% during the 2nd quarter. Braidwell LP now owns 564,724 shares of the company's stock valued at $24,232,000 after buying an additional 40,900 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Vera Therapeutics by 136.5% in the first quarter. Renaissance Technologies LLC now owns 457,300 shares of the company's stock valued at $18,397,000 after acquiring an additional 263,900 shares during the period. Orbimed Advisors LLC grew its stake in Vera Therapeutics by 4.6% during the first quarter. Orbimed Advisors LLC now owns 369,596 shares of the company's stock valued at $14,869,000 after acquiring an additional 16,096 shares in the last quarter. Readystate Asset Management LP purchased a new position in Vera Therapeutics during the second quarter valued at approximately $12,663,000. Finally, Bank of New York Mellon Corp grew its stake in Vera Therapeutics by 5.7% during the first quarter. Bank of New York Mellon Corp now owns 179,354 shares of the company's stock valued at $7,215,000 after acquiring an additional 9,620 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Stock Performance

Shares of VERA stock opened at $30.61 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 10.92 and a current ratio of 10.92. Vera Therapeutics, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $56.05. The stock has a 50 day moving average price of $31.53 and a two-hundred day moving average price of $36.60. The company has a market capitalization of $2.21 billion, a P/E ratio of -5.19 and a beta of 1.07.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($1.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.32. The firm had revenue of $10.28 million during the quarter, compared to the consensus estimate of $3.42 million. Analysts expect that Vera Therapeutics, Inc. will post -6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Vera Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday. Raymond James Financial set a $87.00 price target on shares of Vera Therapeutics in a report on Friday. Guggenheim reduced their price target on shares of Vera Therapeutics from $76.00 to $66.00 and set a "buy" rating for the company in a research report on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Vera Therapeutics in a report on Thursday, October 15th. Finally, Leerink Partners started coverage on shares of Vera Therapeutics in a research report on Monday, October 12th. They issued a "market perform" rating and a $34.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.93.

Insiders Place Their Bets

In other Vera Therapeutics news, CEO Marshall Fordyce sold 18,500 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $37.00, for a total value of $684,500.00. Following the sale, the chief executive officer owned 235,244 shares of the company's stock, valued at $8,704,028. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by insiders.

Vera Therapeutics Profile

Vera Therapeutics is a clinical-stage biotechnology company developing treatments for immune-mediated diseases. Headquartered in Brisbane, California, the company focuses on therapies intended to address underlying immune processes involved in conditions with significant unmet medical needs.

Its lead investigational candidate, atacicept, is a fusion protein designed to inhibit BAFF and APRIL, proteins that support B-cell activity and antibody production. Vera is studying atacicept for IgA nephropathy and other autoimmune diseases.

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