Cubist Systematic Strategies LLC Cuts Stock Position in Vera Therapeutics, Inc. (NASDAQ:VERA)

Cubist Systematic Strategies LLC cut its holdings in Vera Therapeutics, Inc. (NASDAQ:VERA) by 44.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,921 shares of the company’s stock after selling 45,021 shares during the quarter. Cubist Systematic Strategies LLC owned 0.09% of Vera Therapeutics worth $2,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank purchased a new stake in shares of Vera Therapeutics in the fourth quarter valued at approximately $26,000. AlphaQuest LLC purchased a new stake in shares of Vera Therapeutics in the fourth quarter valued at approximately $34,000. KBC Group NV increased 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 worth $105,000 after purchasing an additional 1,387 shares in the last quarter. Summit Investment Advisors Inc. increased 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 worth $196,000 after purchasing an additional 639 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Vera Therapeutics during the fourth quarter worth approximately $220,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

Vera Therapeutics Stock Down 1.2%

Shares of NASDAQ:VERA opened at $21.77 on Monday. The company has a quick ratio of 13.76, a current ratio of 13.76 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $24.22 and a two-hundred day moving average of $34.65. The stock has a market cap of $1.39 billion, a P/E ratio of -8.34 and a beta of 1.28. Vera Therapeutics, Inc. has a 52-week low of $18.53 and a 52-week high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last issued its 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 quarter in the prior year, the firm posted ($0.56) earnings per share. On average, research analysts expect that Vera Therapeutics, Inc. will post -2.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VERA. Cantor Fitzgerald dropped their price target on Vera Therapeutics from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Wedbush dropped their price target on Vera Therapeutics from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group began coverage on Vera Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $58.00 price target for the company. Guggenheim boosted their price target on Vera Therapeutics from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Wolfe Research began coverage on Vera Therapeutics in a research report on Tuesday, February 4th. They set an “outperform” rating and a $49.00 price target for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $63.33.

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.