Vestal Point Capital LP Acquires Shares of 1,075,000 Vera Therapeutics, Inc. (NASDAQ:VERA)

Vestal Point Capital LP acquired a new position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,075,000 shares of the company's stock, valued at approximately $45,462,000. Vera Therapeutics comprises approximately 2.7% of Vestal Point Capital LP's holdings, making the stock its 12th biggest holding. Vestal Point Capital LP owned about 1.70% of Vera Therapeutics at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Huntington National Bank bought a new stake in shares of Vera Therapeutics during the fourth quarter valued at approximately $26,000. AlphaQuest LLC bought a new stake in shares of Vera Therapeutics during the fourth quarter valued at approximately $34,000. KBC Group NV boosted its position in shares of Vera Therapeutics by 127.2% during the fourth quarter. KBC Group NV now owns 2,477 shares of the company's stock valued at $105,000 after purchasing an additional 1,387 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock valued at $196,000 after purchasing an additional 639 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Vera Therapeutics during the fourth quarter valued at approximately $220,000. 99.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VERA has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 4th. Guggenheim lifted their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. The Goldman Sachs Group initiated coverage on Vera Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $58.00 price objective for the company. Cantor Fitzgerald lowered their price objective on Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, HC Wainwright initiated coverage on Vera Therapeutics in a research note on Monday, May 5th. They set a "buy" rating and a $75.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $63.33.

Vera Therapeutics Stock Up 0.1%

Shares of VERA stock traded up $0.01 during mid-day trading on Friday, hitting $19.64. The company's stock had a trading volume of 1,064,297 shares, compared to its average volume of 782,749. Vera Therapeutics, Inc. has a 52-week low of $18.53 and a 52-week high of $51.61. The business has a 50-day moving average price of $22.74 and a 200 day moving average price of $33.21. The company has a debt-to-equity ratio of 0.17, a quick ratio of 13.76 and a current ratio of 13.76. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.52 and a beta of 1.28.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). During the same period in the previous year, the firm posted ($0.56) earnings per share. Research analysts predict that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

About Vera Therapeutics

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.