Y Intercept Hong Kong Ltd Takes $293,000 Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment of approximately $293,000 in Vera Therapeutics, buying 12,212 shares of the company during the first quarter.
• Several large investors recently adjusted their positions in Vera Therapeutics, with institutional investors now owning 99.21% of the company's stock.
• Vera Therapeutics reported a quarterly EPS of ($0.81), missing analyst estimates, while research firms reaffirmed a "buy" rating with varying target prices, the highest being $100.00.

Y Intercept Hong Kong Ltd purchased a new stake in Vera Therapeutics, Inc. (NASDAQ:VERA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,212 shares of the company's stock, valued at approximately $293,000.

Several other large investors have also modified their holdings of the business. Huntington National Bank acquired a new stake in shares of Vera Therapeutics in the fourth quarter valued at approximately $26,000. Summit Investment Advisors Inc. boosted its position in Vera Therapeutics by 16.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,639 shares of the company's stock worth $196,000 after acquiring an additional 639 shares during the last quarter. Alliancebernstein L.P. boosted its position in Vera Therapeutics by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 40,350 shares of the company's stock worth $1,706,000 after acquiring an additional 800 shares during the last quarter. Corebridge Financial Inc. boosted its position in Vera Therapeutics by 5.8% during the fourth quarter. Corebridge Financial Inc. now owns 22,047 shares of the company's stock worth $932,000 after acquiring an additional 1,210 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Vera Therapeutics during the fourth quarter worth approximately $56,000. 99.21% of the stock is currently owned by institutional investors and hedge funds.

Vera Therapeutics Stock Up 0.8%

Vera Therapeutics stock traded up $0.16 during midday trading on Friday, hitting $20.95. 1,000,400 shares of the stock were exchanged, compared to its average volume of 859,998. Vera Therapeutics, Inc. has a 1 year low of $18.53 and a 1 year high of $51.61. The firm has a market cap of $1.34 billion, a P/E ratio of -6.98 and a beta of 1.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 27.68 and a quick ratio of 27.68. The company has a 50 day moving average price of $22.87 and a two-hundred day moving average price of $25.70.

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

Insider Transactions at Vera Therapeutics

In other news, Director Patrick G. Enright purchased 40,607 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average price of $22.35 per share, with a total value of $907,566.45. Following the purchase, the director directly owned 3,596,593 shares of the company's stock, valued at approximately $80,383,853.55. This represents a 1.14% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 16.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Scotiabank restated an "outperform" rating on shares of Vera Therapeutics in a research report on Tuesday, June 3rd. Cantor Fitzgerald cut their price target on shares of Vera Therapeutics from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Wedbush cut their price target on shares of Vera Therapeutics from $34.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Guggenheim reaffirmed a "buy" rating on shares of Vera Therapeutics in a research note on Tuesday, June 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $85.00 price target (up previously from $75.00) on shares of Vera Therapeutics in a research note on Monday, June 2nd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $65.00.

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.