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

Key Points

• Woodline Partners LP has reduced its stake in Vera Therapeutics, owning 1,000,849 shares worth approximately $24.04 million after selling 201,617 shares, marking a 16.8% decrease in their position.
• The stock of Vera Therapeutics has seen recent institutional interest, with companies like AlphaQuest LLC and GAMMA Investing LLC increasing their positions by 404.7% and 1,779.1% respectively in the first quarter.
• Vera Therapeutics reported a loss of ($1.20) earnings per share for the latest quarter, which was below analysts' expectations, prompting various research firms to adjust their price targets and ratings on the stock.

Woodline Partners LP decreased its position in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000,849 shares of the company's stock after selling 201,617 shares during the quarter. Woodline Partners LP owned 1.57% of Vera Therapeutics worth $24,040,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Quarry LP grew its position in shares of Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 500 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Vera Therapeutics by 5.8% in the 1st quarter. Wellington Management Group LLP now owns 19,061 shares of the company's stock worth $458,000 after acquiring an additional 1,043 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Vera Therapeutics in the 4th quarter worth approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Vera Therapeutics by 19.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,533 shares of the company's stock worth $229,000 after acquiring an additional 1,572 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Vera Therapeutics by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 143,665 shares of the company's stock worth $3,451,000 after acquiring an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 99.21% of the company's stock.

Vera Therapeutics Stock Performance

VERA stock traded down $0.76 during trading on Friday, reaching $23.77. 1,084,138 shares of the company's stock were exchanged, compared to its average volume of 1,878,065. The company has a quick ratio of 17.03, a current ratio of 17.03 and a debt-to-equity ratio of 0.16. Vera Therapeutics, Inc. has a 1-year low of $18.53 and a 1-year high of $51.61. The company's fifty day moving average price is $22.28 and its 200-day moving average price is $23.26. The firm has a market cap of $1.52 billion, a PE ratio of -6.64 and a beta of 1.17.

Vera Therapeutics (NASDAQ:VERA - Get Free Report) last announced its quarterly earnings results 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 period in the prior year, the business posted ($0.62) earnings per share. On average, research analysts expect that Vera Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

Insider Transactions at Vera Therapeutics

In other Vera Therapeutics news, Director Patrick G. Enright purchased 209,393 shares of Vera Therapeutics stock in a transaction on Monday, June 23rd. The stock was bought at an average price of $20.87 per share, for a total transaction of $4,370,031.91. Following the transaction, the director owned 3,569,522 shares of the company's stock, valued at $74,495,924.14. The trade was a 6.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 16.30% of the company's stock.

Analyst Upgrades and Downgrades

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

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.