Woodline Partners LP Raises Stock Holdings in Vera Therapeutics, Inc. (NASDAQ:VERA)

Woodline Partners LP raised its stake in shares of Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 20.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,202,466 shares of the company's stock after buying an additional 201,573 shares during the quarter. Woodline Partners LP owned about 1.90% of Vera Therapeutics worth $50,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VERA. Huntington National Bank bought a new position in Vera Therapeutics in the 4th quarter valued at $26,000. Summit Investment Advisors Inc. increased its holdings in shares of Vera Therapeutics by 16.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after purchasing an additional 639 shares during the period. AlphaQuest LLC bought a new stake in Vera Therapeutics during the fourth quarter valued at $34,000. Alliancebernstein L.P. boosted its stake in Vera Therapeutics by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock valued at $1,706,000 after buying an additional 800 shares during the period. Finally, E Fund Management Co. Ltd. grew its position in Vera Therapeutics by 22.3% during the fourth quarter. E Fund Management Co. Ltd. now owns 6,203 shares of the company's stock worth $262,000 after buying an additional 1,130 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

Vera Therapeutics Trading Down 3.7%

NASDAQ:VERA traded down $0.76 during trading hours on Thursday, reaching $19.63. The company's stock had a trading volume of 658,402 shares, compared to its average volume of 781,991. 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 firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.52 and a beta of 1.28. The firm has a 50-day simple moving average of $22.90 and a 200-day simple moving average of $33.40. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Guggenheim raised their price target on Vera Therapeutics from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Wolfe Research assumed coverage on shares of Vera Therapeutics in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $49.00 price objective on the stock. Wedbush dropped their target price on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Vera Therapeutics from $77.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Vera Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $63.33.

Vera Therapeutics Company 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.